Nevro (NYSE:NVRO) Upgraded to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Nevro (NYSE:NVRO - Free Report) from an underperform rating to a hold rating in a research report report published on Monday morning, MarketBeat Ratings reports. Jefferies Financial Group currently has $5.85 target price on the medical equipment provider's stock, up from their previous target price of $4.50.

Several other equities research analysts also recently weighed in on NVRO. Canaccord Genuity Group raised their price objective on Nevro from $4.00 to $5.85 and gave the company a "hold" rating in a report on Friday, February 7th. Morgan Stanley downgraded Nevro from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $9.00 to $4.00 in a report on Monday, December 2nd. StockNews.com raised Nevro from a "sell" rating to a "hold" rating in a report on Tuesday, November 19th. JMP Securities reissued a "market perform" rating on shares of Nevro in a report on Tuesday, November 12th. Finally, Piper Sandler raised Nevro from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $6.00 to $5.85 in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Nevro presently has an average rating of "Hold" and an average price target of $6.43.

Nevro Price Performance

Shares of NVRO stock traded down $0.01 during trading hours on Monday, reaching $5.72. The company's stock had a trading volume of 1,099,697 shares, compared to its average volume of 1,218,196. The firm's 50 day simple moving average is $4.39 and its 200-day simple moving average is $5.09. The company has a market capitalization of $214.14 million, a price-to-earnings ratio of -3.02 and a beta of 0.91. Nevro has a fifty-two week low of $3.16 and a fifty-two week high of $17.63. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO - Get Free Report) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The firm had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same quarter last year, the business posted ($0.65) EPS. The company's revenue was down 7.0% compared to the same quarter last year. Sell-side analysts forecast that Nevro will post -2.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Western Standard LLC bought a new position in shares of Nevro in the 3rd quarter worth about $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nevro by 130.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider's stock worth $5,590,000 after acquiring an additional 566,462 shares in the last quarter. Engaged Capital LLC raised its position in shares of Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider's stock worth $13,656,000 after acquiring an additional 557,000 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Nevro by 50.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider's stock valued at $4,096,000 after buying an additional 246,979 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Nevro by 27.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider's stock valued at $5,195,000 after buying an additional 200,885 shares in the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

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.