Nevro (NYSE:NVRO) Stock Rating Upgraded by 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 on Tuesday.

A number of other analysts also recently issued reports on NVRO. Truist Financial decreased their target price on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 target price on shares of Nevro in a research report on Tuesday, November 12th. Piper Sandler reduced their price target on Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.10.

Nevro Stock Performance

Shares of NVRO opened at $4.23 on Tuesday. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $158.50 million, a price-to-earnings ratio of -2.24 and a beta of 0.93. The stock has a 50 day moving average of $5.15 and a 200 day moving average of $7.20. Nevro has a 12 month low of $3.95 and a 12 month high of $22.64.

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

Institutional Investors Weigh In On Nevro

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in shares of Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 6,565 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Nevro in the 3rd quarter valued at about $63,000. Intech Investment Management LLC bought a new stake in shares of Nevro in the 3rd quarter valued at about $69,000. SG Americas Securities LLC bought a new stake in shares of Nevro in the 3rd quarter valued at about $71,000. Finally, Quantbot Technologies LP lifted 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 valued at $81,000 after acquiring an additional 13,381 shares during the last quarter. 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.