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

JMP Securities restated their market perform rating on shares of Nevro (NYSE:NVRO) in a research report sent to investors on Tuesday,Benzinga reports.

A number of other research analysts have also weighed in on the company. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Truist Financial cut their target price on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, August 8th. Morgan Stanley decreased their price target on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Citigroup lowered their price objective on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.10.

Nevro Stock Performance

NVRO opened at $4.52 on Tuesday. The company has a 50 day simple moving average of $5.18 and a two-hundred day simple moving average of $7.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.53. The firm has a market cap of $169.36 million, a P/E ratio of -2.39 and a beta of 0.93. Nevro has a 1-year low of $3.95 and a 1-year high of $22.64.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share 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 return on equity of 23.52% and a negative net margin of 16.54%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.65) EPS. Equities analysts forecast that Nevro will post -2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nevro

Several institutional investors have recently bought and sold shares of the company. M&T Bank Corp grew its holdings in shares of Nevro by 54.0% in the third quarter. M&T Bank Corp now owns 78,954 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 27,681 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Nevro by 2,310.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 72,300 shares of the medical equipment provider’s stock valued at $404,000 after purchasing an additional 69,300 shares during the last quarter. Western Standard LLC purchased a new stake in shares of Nevro in the 3rd quarter valued at approximately $5,473,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Nevro by 50.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock worth $4,096,000 after buying an additional 246,979 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of Nevro by 2.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock valued at $24,547,000 after buying an additional 102,150 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.