Morgan Stanley upgraded shares of Nevro (NYSE:NVRO) to an overweight rating in a report published on Wednesday, The Fly reports.

A number of other equities research analysts also recently issued reports on NVRO. Zacks Investment Research downgraded shares of Nevro from a hold rating to a sell rating in a research note on Wednesday, February 27th. Canaccord Genuity reiterated a buy rating and set a $62.00 price objective (up from $46.00) on shares of Nevro in a research note on Wednesday. UBS Group assumed coverage on shares of Nevro in a research note on Tuesday, November 27th. They set a sell rating and a $35.00 price objective on the stock. BMO Capital Markets downgraded shares of Nevro from an outperform rating to a market perform rating in a research note on Friday, February 22nd. Finally, Wells Fargo & Co upgraded shares of Nevro from a market perform rating to an outperform rating and set a $75.00 price objective on the stock in a research note on Wednesday. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $60.00.

NVRO stock opened at $60.74 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.64 and a current ratio of 7.11. Nevro has a 52 week low of $34.75 and a 52 week high of $94.34. The stock has a market capitalization of $1.36 billion, a P/E ratio of -37.04 and a beta of 0.14.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Thursday, February 21st. The medical equipment provider reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.15). Nevro had a negative net margin of 12.70% and a negative return on equity of 20.13%. The business had revenue of $107.90 million during the quarter, compared to analyst estimates of $107.39 million. During the same quarter last year, the company posted ($0.15) earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Nevro will post -2.31 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of NVRO. Point72 Asset Management L.P. boosted its stake in shares of Nevro by 1,654.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,490,642 shares of the medical equipment provider’s stock valued at $84,967,000 after purchasing an additional 1,405,680 shares in the last quarter. Norges Bank acquired a new stake in shares of Nevro in the 4th quarter valued at approximately $36,675,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Nevro by 225.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,316,090 shares of the medical equipment provider’s stock valued at $51,183,000 after purchasing an additional 911,332 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Nevro by 32.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,311,505 shares of the medical equipment provider’s stock valued at $131,763,000 after purchasing an additional 562,933 shares in the last quarter. Finally, Partner Fund Management L.P. acquired a new stake in shares of Nevro in the 4th quarter valued at approximately $21,627,000.

Nevro Company Profile

Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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Analyst Recommendations for Nevro (NYSE:NVRO)

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