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

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Other analysts also recently issued research reports about the company. Wolfe Research upgraded Nevro from an underperform rating to a peer perform rating in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price target on Nevro from $16.00 to $7.00 and set a sector perform rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Nevro from an equal weight rating to an underweight rating and dropped their price target for the stock from $13.00 to $5.50 in a research note on Wednesday, August 7th. JMP Securities lowered shares of Nevro from an outperform rating to a market perform rating in a research note on Wednesday, August 7th. Finally, Citigroup upgraded shares of Nevro from a sell rating to a neutral rating and set a $6.89 target price on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat.com, Nevro presently has an average rating of Hold and a consensus target price of $10.55.

Nevro Stock Performance

Shares of NVRO opened at $4.95 on Monday. Nevro has a one year low of $4.38 and a one year high of $22.64. The company has a 50-day simple moving average of $6.12 and a two-hundred day simple moving average of $9.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. The firm has a market capitalization of $181.81 million, a PE ratio of -2.16 and a beta of 0.94.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.10. The company had revenue of $104.16 million for the quarter, compared to analyst estimates of $107.11 million. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.69) earnings per share. On average, analysts anticipate that Nevro will post -2.6 EPS for the current fiscal year.

Institutional Trading of Nevro

Several hedge funds have recently bought and sold shares of NVRO. Charles Schwab Investment Management Inc. boosted its position in shares of Nevro by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 280,528 shares of the medical equipment provider’s stock valued at $6,037,000 after acquiring an additional 3,860 shares during the last quarter. Norges Bank bought a new position in Nevro during the fourth quarter valued at $8,498,000. Goldman Sachs Group Inc. grew its stake in shares of Nevro by 69.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after buying an additional 431,136 shares in the last quarter. Nomura Holdings Inc. increased its holdings in shares of Nevro by 28.1% in the 4th quarter. Nomura Holdings Inc. now owns 59,250 shares of the medical equipment provider’s stock worth $1,275,000 after buying an additional 13,000 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Nevro by 189.3% during the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock valued at $745,000 after buying an additional 33,760 shares in the last quarter. Hedge funds and other 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.