Brokerages Set Nevro Corp. (NYSE:NVRO) PT at $19.46

Nevro Corp. (NYSE:NVRO) has been assigned an average rating of “Reduce” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $19.46.

NVRO has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on shares of Nevro from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 8th. Citigroup lowered shares of Nevro from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $13.50 to $9.00 in a research note on Wednesday, May 22nd. Canaccord Genuity Group dropped their price target on shares of Nevro from $17.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Royal Bank of Canada dropped their price target on shares of Nevro from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Monday, April 15th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Friday, March 1st.

Nevro Trading Up 0.7 %

NVRO opened at $8.42 on Wednesday. The firm has a market capitalization of $309.27 million, a P/E ratio of -3.68 and a beta of 0.95. The firm’s 50 day moving average is $9.92 and its 200-day moving average is $14.39. Nevro has a 52-week low of $7.85 and a 52-week high of $26.53. The company has a quick ratio of 5.57, a current ratio of 7.38 and a debt-to-equity ratio of 0.77.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.32. The company had revenue of $101.90 million for the quarter, compared to analyst estimates of $97.90 million. Nevro had a negative net margin of 19.17% and a negative return on equity of 27.48%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.98) earnings per share. Analysts expect that Nevro will post -2.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several hedge funds and other institutional investors have recently modified their holdings of NVRO. Armistice Capital LLC boosted its holdings in shares of Nevro by 46.7% during the third quarter. Armistice Capital LLC now owns 3,456,000 shares of the medical equipment provider’s stock valued at $66,424,000 after acquiring an additional 1,100,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Nevro by 69.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after purchasing an additional 431,136 shares during the period. Norges Bank acquired a new stake in Nevro in the fourth quarter worth about $8,498,000. Federated Hermes Inc. lifted its holdings in Nevro by 380.1% in the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock worth $9,278,000 after purchasing an additional 341,343 shares during the period. Finally, Palo Alto Investors LP lifted its holdings 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 worth $7,435,000 after purchasing an additional 200,573 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.