StockNews.com Initiates Coverage on Nevro (NYSE:NVRO)

Equities research analysts at StockNews.com initiated coverage on shares of Nevro (NYSE:NVRO) in a report issued on Tuesday. The firm set a “hold” rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. Citigroup lowered their target price on Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price target on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and increased their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.43.

Nevro Stock Performance

Shares of NVRO opened at $5.72 on Tuesday. The stock has a 50 day moving average of $4.53 and a 200 day moving average of $4.96. The company has a market capitalization of $214.14 million, a price-to-earnings ratio of -3.02 and a beta of 0.91. Nevro has a 12 month low of $3.16 and a 12 month high of $17.53. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVRO. SG Americas Securities LLC purchased a new position in shares of Nevro in the third quarter worth approximately $71,000. Assenagon Asset Management S.A. boosted its stake in shares of Nevro by 27.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock worth $5,195,000 after acquiring an additional 200,885 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Nevro during the 3rd quarter valued at $69,000. Charles Schwab Investment Management Inc. grew its position in shares of Nevro by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock valued at $1,698,000 after acquiring an additional 11,369 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after purchasing an additional 13,381 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.