Nevro (NYSE:NVRO) Raised to “Hold” at StockNews.com

Nevro (NYSE:NVRO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $5.50 in a research note on Wednesday, August 7th. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Canaccord Genuity Group decreased 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. Piper Sandler dropped their price objective on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.10.

Nevro Stock Performance

NYSE NVRO traded down $0.06 on Tuesday, reaching $4.23. The stock had a trading volume of 662,873 shares, compared to its average volume of 572,446. The stock has a market cap of $158.50 million, a P/E ratio of -2.24 and a beta of 0.93. Nevro has a 12-month low of $3.95 and a 12-month high of $22.64. The business’s 50-day moving average price is $5.16 and its 200 day moving average price is $7.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02.

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

Institutional Trading of Nevro

Several large investors have recently bought and sold shares of the company. Western Standard LLC acquired a new stake in Nevro in the 3rd quarter valued at about $5,473,000. Assenagon Asset Management S.A. lifted its holdings in shares of Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after purchasing an additional 605,134 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nevro by 130.7% in 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. Engaged Capital LLC grew its position in shares of Nevro by 29.5% in the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after purchasing an additional 557,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Nevro by 50.8% during 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. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.