JMP Securities Reaffirms Market Perform Rating for Nevro (NYSE:NVRO)

Nevro (NYSE:NVRO - Get Free Report)'s stock had its "market perform" rating reissued by analysts at JMP Securities in a report issued on Tuesday,Benzinga reports.

A number of other research firms have also commented on NVRO. Piper Sandler lowered their price target on Nevro from $7.00 to $6.00 and set an "underweight" rating for the company in a research report on Tuesday. Citigroup lowered their target price 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. Canaccord Genuity Group cut their price target on shares of Nevro from $8.00 to $7.00 and set a "hold" rating on the stock in a report on Tuesday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $7.00 price objective on shares of Nevro in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut shares of Nevro from a "neutral" rating to an "underweight" rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.10.

Nevro Stock Down 4.9 %

NVRO traded down $0.26 during trading on Tuesday, hitting $5.06. 2,054,372 shares of the company's stock were exchanged, compared to its average volume of 560,150. Nevro has a fifty-two week low of $4.38 and a fifty-two week high of $22.64. The stock has a market cap of $188.64 million, a P/E ratio of -2.55 and a beta of 0.93. The business's 50 day moving average is $5.24 and its two-hundred day moving average is $7.48. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66.

Nevro (NYSE:NVRO - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $93.09 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.65) EPS. As a group, equities analysts expect that Nevro will post -2.6 earnings per share for the current fiscal year.

Institutional Trading of Nevro

Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider's stock valued at $58,000 after buying an additional 6,565 shares in the last quarter. Intech Investment Management LLC bought a new stake in Nevro during the 3rd quarter worth approximately $69,000. SG Americas Securities LLC purchased a new stake in Nevro in the 3rd quarter worth approximately $71,000. Canada Pension Plan Investment Board boosted its holdings 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 valued at $90,000 after purchasing an additional 8,300 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Nevro by 14.1% during 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 purchasing an additional 1,430 shares in the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.