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

Analysts at StockNews.com started coverage on shares of Nevro (NYSE:NVRO) in a research note issued on Saturday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

A number of other research firms also recently commented on NVRO. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $6.00 to $5.85 in a report on Friday, February 7th. Canaccord Genuity Group increased their price target on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $4.50 to $5.85 in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Nevro currently has a consensus rating of “Hold” and an average target price of $5.36.

Nevro Stock Up 0.1%

Shares of Nevro stock opened at $5.85 on Friday. Nevro has a one year low of $3.17 and a one year high of $11.45. The company has a market cap of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. 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 firm has a fifty day moving average of $5.84 and a two-hundred day moving average of $5.13.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.15. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $105.55 million during the quarter, compared to analysts’ expectations of $102.61 million. On average, analysts forecast that Nevro will post -2.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Amundi purchased a new position in Nevro during the fourth quarter worth $30,000. Oxford Asset Management LLP purchased a new stake in Nevro during the 4th quarter worth about $39,000. GAMMA Investing LLC purchased a new stake in Nevro during the 1st quarter worth about $39,000. Corton Capital Inc. acquired a new position in Nevro in the 4th quarter valued at about $43,000. Finally, Headlands Technologies LLC purchased a new position in Nevro in the 4th quarter valued at about $45,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.