StockNews.com Upgrades Nevro (NYSE:NVRO) to Hold

Nevro (NYSE:NVRO - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday.

NVRO has been the topic of a number of other research reports. JMP Securities downgraded Nevro from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 7th. Piper Sandler lowered their price objective on shares of Nevro from $12.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of Nevro from $16.00 to $7.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. Wolfe Research upgraded shares of Nevro from an "underperform" rating to a "peer perform" rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut shares of Nevro from a "neutral" rating to an "underweight" rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat, Nevro has a consensus rating of "Hold" and a consensus target price of $10.55.

Nevro Stock Performance

NVRO traded down $0.05 during midday trading on Thursday, hitting $4.85. 288,533 shares of the company traded hands, compared to its average volume of 550,986. The company's 50-day moving average is $5.35 and its 200 day moving average is $8.17. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64. The firm has a market capitalization of $178.14 million, a PE ratio of -2.12 and a beta of 0.94. 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 issued its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.10. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The company had revenue of $104.16 million for the quarter, compared to analysts' expectations of $107.11 million. During the same quarter last year, the company posted ($0.69) earnings per share. The firm's quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that Nevro will post -2.6 EPS for the current year.

Institutional Investors Weigh In On Nevro

A number of institutional investors have recently bought and sold shares of NVRO. State Board of Administration of Florida Retirement System boosted its stake in shares of Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider's stock worth $167,000 after acquiring an additional 1,430 shares during the period. Rhumbline Advisers boosted its stake in Nevro by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider's stock worth $497,000 after purchasing an additional 2,836 shares during the period. 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. Price T Rowe Associates Inc. MD raised its position in shares of Nevro by 18.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider's stock valued at $651,000 after buying an additional 7,004 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Nevro by 13.9% in the second quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider's stock worth $500,000 after buying an additional 7,250 shares in the last quarter. 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.