Nevro (NYSE:NVRO) Rating Increased to Hold at StockNews.com

Nevro (NYSE:NVROGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Other equities analysts also recently issued reports about the stock. Citigroup upgraded shares of Nevro from a “neutral” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Thursday, May 5th. SVB Leerink decreased their price objective on shares of Nevro from $105.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, February 24th. Canaccord Genuity Group decreased their price objective on shares of Nevro from $118.00 to $97.00 and set a “hold” rating on the stock in a report on Wednesday, January 12th. Canaccord Genuity Group decreased their price objective on shares of Nevro from $97.00 to $72.00 and set a “hold” rating on the stock in a report on Friday, February 25th. Finally, Bank of America began coverage on shares of Nevro in a research report on Wednesday, March 2nd. They issued an “underperform” rating for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $100.54.

NVRO traded up $1.07 during trading on Tuesday, reaching $44.56. 1,097,200 shares of the stock were exchanged, compared to its average volume of 622,165. The company has a market cap of $1.57 billion, a PE ratio of -11.43 and a beta of 1.07. Nevro has a twelve month low of $42.97 and a twelve month high of $182.45. The business’s 50 day moving average price is $67.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.32 and a current ratio of 6.97.

Nevro (NYSE:NVROGet Rating) last issued its earnings results on Wednesday, May 4th. The medical equipment provider reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.13. The business had revenue of $87.40 million for the quarter, compared to the consensus estimate of $86.19 million. Nevro had a negative net margin of 35.25% and a negative return on equity of 38.02%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.85) earnings per share. On average, equities analysts anticipate that Nevro will post -2.86 EPS for the current year.

In other news, CEO D Keith Grossman acquired 3,200 shares of the stock in a transaction dated Tuesday, March 8th. The stock was bought at an average price of $63.59 per share, with a total value of $203,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kashif Rashid acquired 1,500 shares of the stock in a transaction dated Friday, March 11th. The stock was purchased at an average cost of $64.04 per share, with a total value of $96,060.00. The disclosure for this purchase can be found here. Insiders bought 6,950 shares of company stock valued at $399,673 in the last three months. Company insiders own 2.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in NVRO. Parallel Advisors LLC increased its position in Nevro by 476.4% during the 4th quarter. Parallel Advisors LLC now owns 317 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 262 shares during the period. Quadrant Capital Group LLC grew its position in shares of Nevro by 79.5% during the 4th quarter. Quadrant Capital Group LLC now owns 368 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 163 shares during the period. Signaturefd LLC grew its position in shares of Nevro by 7,028.6% during the 4th quarter. Signaturefd LLC now owns 499 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 492 shares during the period. CWM LLC acquired a new stake in shares of Nevro during the 4th quarter worth approximately $47,000. Finally, FourThought Financial LLC grew its position in shares of Nevro by 49.1% during the 1st quarter. FourThought Financial LLC now owns 683 shares of the medical equipment provider’s stock worth $49,000 after buying an additional 225 shares during the period.

Nevro Company Profile (Get Rating)

Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain, as well as Senza II and Senza Omnia systems.

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