Nevro (NYSE:NVRO) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Nevro (NYSE:NVRO) in a research note released on Saturday morning. The firm issued a hold rating on the medical equipment provider’s stock.

A number of other analysts also recently commented on NVRO. Canaccord Genuity Group increased their price objective on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Piper Sandler upgraded shares of Nevro from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $6.00 to $5.85 in a report on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and increased their price objective for the company from $4.50 to $5.85 in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.36.

Nevro Stock Up 0.1%

NVRO opened at $5.85 on Friday. Nevro has a twelve month low of $3.17 and a twelve month high of $11.45. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $5.84 and a 200 day moving average price of $5.13. The company has a market cap of $224.32 million, a PE ratio of -3.09 and a beta of 0.81.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.15. The company had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Sell-side analysts expect that Nevro will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of Nevro

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Nevro by 12.9% during the 4th quarter. Barclays PLC now owns 69,416 shares of the medical equipment provider’s stock worth $258,000 after purchasing an additional 7,920 shares during the period. Prudential Financial Inc. boosted its position in shares of Nevro by 243.4% during the 4th quarter. Prudential Financial Inc. now owns 195,680 shares of the medical equipment provider’s stock worth $728,000 after purchasing an additional 138,700 shares during the period. Amundi purchased a new position in shares of Nevro during the 4th quarter worth approximately $30,000. Price T Rowe Associates Inc. MD boosted its position in shares of Nevro by 38.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 139,240 shares of the medical equipment provider’s stock worth $518,000 after purchasing an additional 38,869 shares during the period. Finally, Virtu Financial LLC boosted its position in shares of Nevro by 59.9% during the 4th quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock worth $67,000 after purchasing an additional 6,725 shares during the period. Institutional investors and hedge funds 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.