Nevro (NYSE:NVRO) Earns “Market Perform” Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Nevro (NYSE:NVRO) in a report published on Tuesday,Benzinga reports.

Several other equities analysts have also commented on NVRO. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Citigroup dropped their price objective on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Robert W. Baird boosted their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.10.

Nevro Price Performance

NVRO stock opened at $4.52 on Tuesday. The business’s fifty day moving average price is $5.18 and its 200 day moving average price is $7.39. Nevro has a 12-month low of $3.95 and a 12-month high of $22.64. The company has a current ratio of 5.02, a quick ratio of 3.53 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $169.36 million, a PE ratio of -2.39 and a beta of 0.93.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40. The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. On average, sell-side analysts anticipate that Nevro will post -2.46 EPS for the current year.

Hedge Funds Weigh In On Nevro

A number of large investors have recently modified their holdings of NVRO. Nisa Investment Advisors LLC increased its position in Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Nevro during the third quarter worth approximately $69,000. SG Americas Securities LLC purchased a new position in shares of Nevro in the 3rd quarter valued at $71,000. Quantbot Technologies LP lifted its holdings in shares of Nevro by 1,290.4% during 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. Finally, Canada Pension Plan Investment Board boosted its position in Nevro by 345.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 8,300 shares during the period. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.