Nevro (NYSE:NVRO) Shares Up 5.5%

Nevro Corp. (NYSE:NVRO - Get Free Report) traded up 5.5% during mid-day trading on Tuesday . The stock traded as high as $13.83 and last traded at $13.83. 44,301 shares were traded during mid-day trading, a decline of 91% from the average session volume of 479,632 shares. The stock had previously closed at $13.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVRO shares. StockNews.com raised shares of Nevro from a "sell" rating to a "hold" rating in a research note on Friday, March 1st. Robert W. Baird lowered their price target on shares of Nevro from $23.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, February 22nd. Truist Financial raised their price objective on shares of Nevro from $22.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, December 22nd. Oppenheimer lowered shares of Nevro from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada lowered shares of Nevro from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $22.62.

Nevro Stock Up 3.7 %

The business has a 50-day moving average of $15.11 and a 200-day moving average of $17.11. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37. The stock has a market capitalization of $494.68 million, a price-to-earnings ratio of -5.29 and a beta of 0.89.

Nevro (NYSE:NVRO - Get Free Report) last released its earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.35. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The company had revenue of $116.18 million during the quarter, compared to the consensus estimate of $115.93 million. On average, sell-side analysts expect that Nevro Corp. will post -2.53 EPS for the current year.

Hedge Funds Weigh In On Nevro

A number of institutional investors and hedge funds have recently made changes to their positions in NVRO. Palo Alto Investors LP lifted its stake in Nevro by 107.7% in the third quarter. Palo Alto Investors LP now owns 386,832 shares of the medical equipment provider's stock valued at $7,435,000 after buying an additional 200,573 shares during the last quarter. Swiss National Bank lifted its stake in Nevro by 1.3% in the third quarter. Swiss National Bank now owns 78,800 shares of the medical equipment provider's stock valued at $1,515,000 after buying an additional 1,000 shares during the last quarter. Walleye Capital LLC lifted its stake in Nevro by 301.4% in the third quarter. Walleye Capital LLC now owns 118,764 shares of the medical equipment provider's stock valued at $2,283,000 after buying an additional 89,179 shares during the last quarter. UBS Group AG lifted its stake in Nevro by 19,354.5% in the third quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider's stock valued at $17,361,000 after buying an additional 898,629 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in Nevro in the third quarter valued at approximately $248,000. 95.52% of the stock is 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.