Nevro (NYSE:NVRO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Other research analysts also recently issued reports about the company. JMP Securities restated a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Truist Financial lowered their target price on shares of Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group reduced their price target on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.10.

Nevro Price Performance

Shares of NVRO opened at $4.43 on Tuesday. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro has a twelve month low of $3.95 and a twelve month high of $22.64. The stock has a market capitalization of $166.16 million, a P/E ratio of -2.24 and a beta of 0.93. The company has a 50 day moving average of $5.14 and a 200-day moving average of $7.18.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same quarter last year, the firm earned ($0.65) earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Nevro will post -2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Nevro

Hedge funds have recently made changes to their positions in the stock. Western Standard LLC bought a new position in Nevro in the 3rd quarter valued at approximately $5,473,000. Assenagon Asset Management S.A. lifted its stake in shares of Nevro by 490.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after acquiring an additional 605,134 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Nevro by 130.7% during the 3rd 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 acquiring an additional 566,462 shares in the last quarter. Engaged Capital LLC grew its position in Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after acquiring an additional 557,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Nevro by 50.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock worth $4,096,000 after purchasing an additional 246,979 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.