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

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

Several other research analysts have also recently issued reports on NVRO. JMP Securities cut Nevro from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Nevro from a "neutral" rating to an "underweight" rating in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded Nevro from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $13.00 to $5.50 in a research note on Wednesday, August 7th. Robert W. Baird reduced their price objective on Nevro from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley reduced their price objective on Nevro from $14.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.55.

Nevro Stock Up 0.4 %

Nevro stock traded up $0.02 during mid-day trading on Friday, reaching $5.53. The stock had a trading volume of 352,032 shares, compared to its average volume of 547,445. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. Nevro has a fifty-two week low of $4.38 and a fifty-two week high of $22.64. The stock's 50-day simple moving average is $5.32 and its 200-day simple moving average is $7.88. The firm has a market capitalization of $206.17 million, a PE ratio of -2.64 and a beta of 0.94.

Nevro (NYSE:NVRO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) 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 firm had revenue of $104.16 million during the quarter, compared to analysts' expectations of $107.11 million. During the same quarter last year, the firm 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, sell-side analysts forecast that Nevro will post -2.6 EPS for the current fiscal year.

Institutional Trading of Nevro

A number of institutional investors have recently added to or reduced their stakes in NVRO. Nisa Investment Advisors LLC lifted 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 worth $58,000 after purchasing an additional 6,565 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nevro in the 3rd quarter valued at about $71,000. Canada Pension Plan Investment Board raised its holdings in shares of 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 acquiring an additional 8,300 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of 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 acquiring an additional 1,430 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Nevro by 84.6% in the 2nd quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider's stock valued at $208,000 after acquiring an additional 11,323 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company's stock.

About Nevro

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.