JMP Securities Reaffirms “Market Perform” Rating for Nevro (NYSE:NVRO)

Nevro (NYSE:NVRO)‘s stock had its “market perform” rating reiterated by research analysts at JMP Securities in a research report issued on Tuesday,Benzinga reports.

NVRO has been the subject of several other research reports. Wells Fargo & Company downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $13.00 to $5.50 in a research note on Wednesday, August 7th. Canaccord Genuity Group dropped their price objective on Nevro from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $7.00 price target on shares of Nevro in a research report on Tuesday. Finally, Truist Financial decreased their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.10.

Nevro Stock Performance

Shares of Nevro stock opened at $4.45 on Tuesday. The firm has a fifty day moving average of $5.23 and a two-hundred day moving average of $7.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. The stock has a market capitalization of $165.91 million, a price-to-earnings ratio of -2.35 and a beta of 0.93. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.40. The firm had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative return on equity of 23.35% and a negative net margin of 16.54%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. As a group, equities research analysts predict that Nevro will post -2.6 EPS for the current year.

Institutional Trading of Nevro

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Nevro by 171.3% in the third quarter. BNP Paribas Financial Markets now owns 135,145 shares of the medical equipment provider’s stock valued at $755,000 after purchasing an additional 85,324 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after acquiring an additional 13,381 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Nevro by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock valued at $1,698,000 after acquiring an additional 11,369 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Nevro in the third quarter valued at about $69,000. Finally, Assenagon Asset Management S.A. raised its holdings in Nevro by 27.6% during the third quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock worth $5,195,000 after acquiring an additional 200,885 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

About Nevro

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.