Nevro (NYSE:NVRO) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Nevro (NYSE:NVRO - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

Several other research analysts have also recently issued reports on NVRO. Citigroup cut their price target on shares of Nevro from $6.89 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut Nevro from a "neutral" rating to an "underweight" rating in a report on Wednesday, August 7th. Robert W. Baird dropped their price objective on Nevro from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Wolfe Research raised Nevro from an "underperform" rating to a "peer perform" rating in a report on Thursday, August 8th. Finally, Truist Financial decreased their target price on shares of Nevro from $10.00 to $5.50 and set a "hold" rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.80.

Nevro Stock Performance

Shares of NYSE NVRO traded down $0.26 during midday trading on Friday, reaching $5.08. 662,567 shares of the company were exchanged, compared to its average volume of 394,044. The stock has a fifty day simple moving average of $5.25 and a 200 day simple moving average of $7.56. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. The stock has a market cap of $189.40 million, a P/E ratio of -2.38 and a beta of 0.93. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64.

Nevro (NYSE:NVRO - Get Free Report) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $0.10. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The business had revenue of $104.16 million for the quarter, compared to analyst estimates of $107.11 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts forecast that Nevro will post -2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several hedge funds have recently bought and sold shares of NVRO. Nisa Investment Advisors LLC raised its holdings in Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider's stock valued at $58,000 after acquiring an additional 6,565 shares during the last quarter. Intech Investment Management LLC acquired a new position in Nevro in the third quarter valued at $69,000. SG Americas Securities LLC purchased a new position in Nevro during the third quarter worth about $71,000. Canada Pension Plan Investment Board boosted its stake in Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider's stock worth $90,000 after buying an additional 8,300 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Nevro by 14.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider's stock valued at $167,000 after buying an additional 1,430 shares during the period. Hedge funds and other institutional investors own 95.52% of the company's stock.

Nevro Company Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.