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

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

Other analysts have also issued reports about the stock. Canaccord Genuity Group boosted their target price on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $6.00 to $5.85 in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and raised their target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.36.

Nevro Price Performance

NVRO stock opened at $5.85 on Thursday. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. Nevro has a 12 month low of $3.17 and a 12 month high of $11.79. The stock has a market cap of $224.32 million, a PE ratio of -3.09 and a beta of 0.81. The company has a 50-day moving average price of $5.82 and a 200 day moving average price of $5.08.

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

Institutional Investors Weigh In On Nevro

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Nevro in the 3rd quarter valued at about $63,000. SG Americas Securities LLC boosted its stake in Nevro by 34.6% in the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 4,406 shares in the last quarter. Ieq Capital LLC purchased a new position in Nevro in the fourth quarter worth $46,000. Norden Group LLC acquired a new position in shares of Nevro during the fourth quarter worth $84,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Nevro by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 314,481 shares of the medical equipment provider’s stock valued at $1,170,000 after purchasing an additional 10,806 shares during the last quarter. Institutional investors own 95.52% of the company’s stock.

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.