Nevro (NYSE:NVRO) Upgraded by Piper Sandler to "Overweight" Rating

Piper Sandler upgraded shares of Nevro (NYSE:NVRO - Free Report) from a neutral rating to an overweight rating in a research report released on Friday, Marketbeat reports. Piper Sandler currently has $5.85 price target on the medical equipment provider's stock, down from their previous price target of $6.00.

A number of other research analysts have also issued reports on NVRO. Royal Bank of Canada reissued a "sector perform" rating and issued a $7.00 target price on shares of Nevro in a report on Tuesday, November 12th. JMP Securities reaffirmed a "market perform" rating on shares of Nevro in a report on Tuesday, November 12th. Citigroup cut their target price on Nevro from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday, December 11th. StockNews.com raised Nevro from a "sell" rating to a "hold" rating in a report on Tuesday, November 19th. Finally, Robert W. Baird increased their price target on shares of Nevro from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.43.

Nevro Stock Down 0.1 %

Shares of NYSE NVRO traded down $0.01 during mid-day trading on Friday, reaching $5.72. The company had a trading volume of 1,003,405 shares, compared to its average volume of 1,181,879. The firm has a 50 day simple moving average of $4.30 and a two-hundred day simple moving average of $5.15. Nevro has a 52-week low of $3.16 and a 52-week high of $17.75. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock has a market cap of $214.14 million, a P/E ratio of -3.02 and a beta of 0.91.

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

Institutional Trading of Nevro

A number of hedge funds have recently bought and sold shares of the company. Western Standard LLC purchased a new position in shares of Nevro during the 3rd quarter worth $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 buying an additional 566,462 shares during the last quarter. Engaged Capital LLC grew its holdings in Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider's stock valued at $13,656,000 after buying an additional 557,000 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Nevro by 50.8% during 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 acquiring an additional 246,979 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Nevro by 27.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider's stock worth $5,195,000 after acquiring an additional 200,885 shares during the period. Institutional investors and hedge funds 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.