Nevro Corp. (NYSE:NVRO) Receives $6.30 Average Target Price from Analysts

Nevro Corp. (NYSE:NVRO) has earned a consensus recommendation of “Reduce” from the thirteen research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $6.30.

Several brokerages have recently issued reports on NVRO. Wells Fargo & Company dropped their target price on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Truist Financial lowered their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Robert W. Baird increased their target price on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a research note on Tuesday, November 12th.

Institutional Investors Weigh In On Nevro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Nevro in the third quarter worth approximately $63,000. Intech Investment Management LLC acquired a new position in shares of Nevro in the 3rd quarter worth approximately $69,000. SG Americas Securities LLC purchased a new position in shares of Nevro during the 3rd quarter worth approximately $71,000. Quantbot Technologies LP increased its holdings in Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after purchasing an additional 13,381 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 8,300 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Stock Performance

NYSE NVRO opened at $3.69 on Friday. The stock has a market capitalization of $138.27 million, a price-to-earnings ratio of -1.95 and a beta of 0.86. The stock has a 50-day moving average of $4.18 and a 200 day moving average of $5.65. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. Nevro has a twelve month low of $3.16 and a twelve month high of $19.47.

Nevro (NYSE:NVRO) last announced its 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. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same period in the prior year, the company posted ($0.65) EPS. The business’s quarterly revenue was down 7.0% on a year-over-year basis. Sell-side analysts anticipate that Nevro will post -2.43 EPS for the current fiscal year.

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.