Nevro (NYSE:NVRO) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Nevro (NYSE:NVRO) in a research note issued to investors on Saturday. The firm set a “hold” rating on the medical equipment provider’s stock.

Several other brokerages also recently issued reports on NVRO. Canaccord Genuity Group upped their price target on shares of Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a research report on Friday, February 7th. Piper Sandler upgraded shares of Nevro from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and upped their price target for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.36.

Nevro Stock Up 0.1%

NVRO opened at $5.85 on Friday. The firm’s 50-day simple moving average is $5.83 and its 200-day simple moving average is $5.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro has a twelve month low of $3.17 and a twelve month high of $11.65. The firm has a market cap of $224.32 million, a price-to-earnings ratio of -3.09 and a beta of 0.81.

Nevro (NYSE:NVRO) last posted its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share 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 business had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. Equities research analysts anticipate that Nevro will post -2.44 EPS for the current fiscal year.

Institutional Trading of Nevro

Several hedge funds have recently bought and sold shares of the stock. Beryl Capital Management LLC bought a new position in shares of Nevro during the 1st quarter worth approximately $21,965,000. Goldman Sachs Group Inc. grew its stake in shares of Nevro by 355.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,072,813 shares of the medical equipment provider’s stock valued at $12,105,000 after buying an additional 1,617,676 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Nevro by 20.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock valued at $6,709,000 after buying an additional 306,943 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of Nevro in the first quarter valued at $7,726,000. Finally, Trium Capital LLP bought a new position in Nevro during the first quarter worth $4,549,000. 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.