StockNews.com Initiates Coverage on Nevro (NYSE:NVRO)

Equities researchers at StockNews.com started coverage on shares of Nevro (NYSE:NVRO - Get Free Report) in a note issued to investors on Sunday. The firm set a "hold" rating on the medical equipment provider's stock.

NVRO has been the subject of several other research reports. Jefferies Financial Group raised Nevro from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Canaccord Genuity Group upped their target price on shares of Nevro from $4.00 to $5.85 and gave the stock a "hold" rating in a research note on Friday, February 7th. Piper Sandler raised shares of Nevro from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $6.00 to $5.85 in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on Nevro from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Finally, Truist Financial reduced their target price on Nevro from $7.00 to $4.70 and set a "hold" rating for the company in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $6.43.

Nevro Stock Performance

Shares of Nevro stock remained flat at $5.84 during trading on Friday. 753,602 shares of the company traded hands, compared to its average volume of 735,490. Nevro has a 52 week low of $3.17 and a 52 week high of $13.84. The firm has a market capitalization of $224.09 million, a P/E ratio of -3.09 and a beta of 0.94. The business's 50 day moving average price is $5.63 and its two-hundred day moving average price is $4.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76.

Nevro (NYSE:NVRO - Get Free Report) last released its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.15. The firm had revenue of $105.55 million during the quarter, compared to analyst estimates of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. As a group, analysts predict that Nevro will post -2.44 EPS for the current year.

Hedge Funds Weigh In On Nevro

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 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 lifted its position in Nevro by 130.7% during the third 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 valued at $5,590,000 after purchasing an additional 566,462 shares in the last quarter. Cantor Fitzgerald L. P. bought a new stake in Nevro during the fourth quarter valued at about $1,976,000. D. E. Shaw & Co. Inc. increased its position in Nevro by 20.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider's stock worth $6,709,000 after buying an additional 306,943 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Nevro by 50.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider's stock worth $4,096,000 after buying an additional 246,979 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.