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

StockNews.com started coverage on shares of Nevro (NYSE:NVRO – Get Rating) in a research note published on Thursday. The brokerage issued a hold rating on the medical equipment provider’s stock.

A number of other brokerages have also recently commented on NVRO. Truist Financial decreased their target price on shares of Nevro from $45.00 to $41.00 and set a hold rating on the stock in a research report on Tuesday, December 20th. Canaccord Genuity Group lifted their target price on shares of Nevro from $67.00 to $72.00 and gave the stock a buy rating in a research report on Monday, February 6th. Piper Sandler decreased their target price on shares of Nevro from $38.00 to $37.00 and set an underweight rating on the stock in a research report on Thursday, January 26th. Morgan Stanley decreased their target price on shares of Nevro from $49.00 to $46.00 and set an equal weight rating on the stock in a research report on Friday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of Nevro from $43.00 to $37.00 and set an equal weight rating on the stock in a research report on Wednesday, January 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $50.30.

Nevro Stock Up 0.3 %

NYSE NVRO opened at $30.49 on Thursday. Nevro has a 52-week low of $28.75 and a 52-week high of $78.90. The company has a quick ratio of 5.85, a current ratio of 7.11 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $35.22 and a 200-day moving average of $40.11.

Nevro (NYSE:NVRO – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The medical equipment provider reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). Nevro had a negative return on equity of 36.24% and a net margin of 0.74%. The company had revenue of $113.84 million for the quarter, compared to the consensus estimate of $113.70 million. During the same period in the prior year, the firm posted ($0.86) earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, research analysts forecast that Nevro will post -2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Nevro by 0.6% in the third quarter. BlackRock Inc. now owns 4,871,522 shares of the medical equipment provider’s stock valued at $227,012,000 after acquiring an additional 29,906 shares during the period. Vanguard Group Inc. increased its position in shares of Nevro by 1.7% during the third quarter. Vanguard Group Inc. now owns 3,621,085 shares of the medical equipment provider’s stock valued at $168,743,000 after buying an additional 60,289 shares during the period. Wellington Management Group LLP increased its position in shares of Nevro by 19.1% during the first quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider’s stock valued at $129,989,000 after buying an additional 287,936 shares during the period. Norges Bank purchased a new position in shares of Nevro during the fourth quarter valued at about $50,205,000. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of Nevro by 8.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,252,218 shares of the medical equipment provider’s stock valued at $49,588,000 after buying an additional 101,158 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

About Nevro

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Nevro Corp. engages in the development of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes the senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.