Equities researchers at StockNews.com initiated coverage on shares of Nevro (NYSE:NVRO - Get Free Report) in a research note issued on Friday. The brokerage set a "hold" rating on the medical equipment provider's stock.
Several other brokerages also recently issued reports on NVRO. Citigroup lowered their price objective on shares of Nevro from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Nevro from an "underperform" rating to a "hold" rating and increased their target price for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Piper Sandler upgraded Nevro from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $6.00 to $5.85 in a research note on Friday, February 7th. Wells Fargo & Company decreased their price objective on Nevro from $5.00 to $4.00 and set an "equal weight" rating on the stock in a 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 research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Nevro has an average rating of "Hold" and a consensus price target of $6.43.
Read Our Latest Stock Analysis on NVRO
Nevro Stock Performance
Shares of NYSE NVRO traded up $0.01 during trading hours on Friday, hitting $5.80. 1,603,534 shares of the stock were exchanged, compared to its average volume of 679,490. The firm has a market capitalization of $222.37 million, a P/E ratio of -3.07 and a beta of 0.94. Nevro has a one year low of $3.17 and a one year high of $14.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The company's 50 day moving average is $5.13 and its 200 day moving average is $4.95.
Nevro (NYSE:NVRO - Get Free Report) last issued its quarterly 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 company had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. On average, research analysts expect that Nevro will post -2.44 EPS for the current year.
Institutional Investors Weigh In On Nevro
A number of large investors have recently bought and sold shares of the business. Two Sigma Investments LP boosted its stake in Nevro by 39.9% in the fourth quarter. Two Sigma Investments LP now owns 219,319 shares of the medical equipment provider's stock worth $816,000 after purchasing an additional 62,568 shares in the last quarter. State of Wyoming grew its holdings in Nevro by 55.6% during the 4th quarter. State of Wyoming now owns 31,043 shares of the medical equipment provider's stock worth $115,000 after acquiring an additional 11,091 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Nevro in the 4th quarter valued at about $136,000. Nuveen Asset Management LLC raised its stake in shares of Nevro by 5.1% in the fourth quarter. Nuveen Asset Management LLC now owns 369,554 shares of the medical equipment provider's stock worth $1,375,000 after acquiring an additional 17,878 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Nevro by 20.5% during 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 purchasing an additional 306,943 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors.
About Nevro
(
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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.
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