Nevro (NYSE:NVRO) Earns Hold Rating from Analysts at StockNews.com

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

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $4.50 to $5.85 in a research note on Monday, February 10th. Canaccord Genuity Group boosted their price objective on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Finally, Truist Financial decreased their target price on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.43.

Nevro Stock Up 0.3 %

Nevro stock opened at $5.79 on Friday. Nevro has a one year low of $3.17 and a one year high of $14.70. The stock has a fifty day moving average of $5.43 and a 200 day moving average of $4.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The stock has a market cap of $221.98 million, a PE ratio of -3.06 and a beta of 0.94.

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

Hedge Funds Weigh In On Nevro

Institutional investors have recently bought and sold shares of the stock. Amundi bought a new position in shares of Nevro during the 4th quarter valued at about $30,000. Oxford Asset Management LLP purchased a new stake in shares of Nevro in the fourth quarter worth about $39,000. Corton Capital Inc. bought a new position in Nevro during the fourth quarter valued at approximately $43,000. Headlands Technologies LLC purchased a new position in Nevro during the 4th quarter valued at approximately $45,000. Finally, Ieq Capital LLC purchased a new position in Nevro during the 4th quarter valued at approximately $46,000. 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.