Nevro (NYSE:NVRO) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Nevro (NYSE:NVRO – Get Rating) from a sell rating to a hold rating in a research report report published on Thursday.

Several other brokerages have also recently issued reports on NVRO. Citigroup lowered their price objective on shares of Nevro from $78.00 to $68.00 in a research note on Tuesday, May 17th. Piper Sandler lowered their price objective on shares of Nevro from $65.00 to $64.00 in a research note on Thursday, May 5th. Bank of America initiated coverage on shares of Nevro in a research note on Wednesday, March 2nd. They set an underperform rating for the company. JMP Securities lowered their price objective on shares of Nevro from $125.00 to $95.00 and set a market outperform rating for the company in a research note on Thursday, May 26th. Finally, Wolfe Research initiated coverage on shares of Nevro in a research report on Tuesday, April 5th. They set an underperform rating and a $64.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $87.25.

NVRO stock opened at $45.59 on Thursday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -11.69 and a beta of 1.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.68 and a current ratio of 6.97. Nevro has a one year low of $39.41 and a one year high of $168.19. The company has a 50 day moving average price of $48.31 and a two-hundred day moving average price of $65.05.

Nevro (NYSE:NVRO – Get Rating) last released its earnings results on Wednesday, May 4th. The medical equipment provider reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.13. The firm had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $86.19 million. Nevro had a negative net margin of 35.25% and a negative return on equity of 38.02%. Nevro’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) EPS. Research analysts forecast that Nevro will post -2.9 earnings per share for the current fiscal year.

In related news, General Counsel Kashif Rashid bought 2,250 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were acquired at an average price of $44.50 per share, for a total transaction of $100,125.00. Following the purchase, the general counsel now owns 53,526 shares in the company, valued at approximately $2,381,907. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its stake 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 acquiring an additional 262 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Nevro by 79.5% during the 4th quarter. Quadrant Capital Group LLC now owns 368 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 163 shares in the last quarter. Signaturefd LLC raised its stake in Nevro by 7,028.6% during the 4th quarter. Signaturefd LLC now owns 499 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 492 shares in the last quarter. CWM LLC bought a new stake in shares of Nevro in the 4th quarter worth $47,000. Finally, FourThought Financial LLC raised its stake in shares of Nevro by 49.1% in 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 in the last quarter.

About Nevro (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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