Nevro (NYSE:NVRO) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Nevro (NYSE:NVRO) from an underperform rating to a hold rating in a report published on Monday, Marketbeat.com reports. Jefferies Financial Group currently has $5.85 price target on the medical equipment provider’s stock, up from their previous price target of $4.50.

NVRO has been the subject of several other reports. Canaccord Genuity Group raised their price target on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Truist Financial cut their price target on shares of Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a report on Wednesday, December 18th. Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Wells Fargo & Company lowered their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, JMP Securities restated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.43.

Nevro Stock Performance

Shares of NVRO stock opened at $5.72 on Monday. The company has a 50 day moving average of $4.35 and a 200-day moving average of $5.09. 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 12-month low of $3.16 and a 12-month high of $17.63. The firm has a market cap of $214.33 million, a P/E ratio of -3.03 and a beta of 0.91.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40. The company 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 period last year, the firm earned ($0.65) EPS. Sell-side analysts anticipate that Nevro will post -2.43 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

A number of hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Nevro in the fourth quarter valued at about $45,000. Prudential Financial Inc. increased its position in shares of Nevro by 243.4% in the fourth quarter. Prudential Financial Inc. now owns 195,680 shares of the medical equipment provider’s stock valued at $728,000 after acquiring an additional 138,700 shares during the period. Sei Investments Co. purchased a new position in shares of Nevro in the fourth quarter valued at about $77,000. American Century Companies Inc. increased its position in shares of Nevro by 12.9% in the fourth quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock valued at $138,000 after acquiring an additional 4,224 shares during the period. Finally, Virtu Financial LLC increased its position in shares of Nevro by 59.9% in the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock valued at $67,000 after acquiring an additional 6,725 shares during the period. Hedge funds and other institutional investors 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.