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

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a report released on Friday morning.

Other analysts have also issued reports about the company. Royal Bank of Canada reduced their target price on Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird reduced their price objective on Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Truist Financial lowered their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research note on Thursday, August 8th. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, Nevro currently has a consensus rating of “Hold” and an average target price of $10.55.

Nevro Stock Performance

NVRO stock traded up $0.02 during trading hours on Friday, hitting $5.53. 352,032 shares of the stock were exchanged, compared to its average volume of 547,445. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $206.17 million, a P/E ratio of -2.60 and a beta of 0.94. The company has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $7.84. Nevro has a 12 month low of $4.38 and a 12 month high of $22.64.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.10. The firm had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.69) EPS. On average, analysts forecast that Nevro will post -2.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of Nevro by 189.3% in the first quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock valued at $745,000 after buying an additional 33,760 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Nevro by 45.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock valued at $444,000 after buying an additional 9,586 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Nevro in the first quarter valued at about $1,446,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Nevro by 14.1% in the first 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 purchasing an additional 1,430 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Nevro by 35.8% in the first quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock valued at $753,000 after purchasing an additional 13,750 shares during the last quarter. 95.52% of the stock is owned by institutional investors.

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.