Nevro Corp. (NYSE:NVRO) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Nevro Corp. (NYSE:NVRO) have earned a consensus rating of “Reduce” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $6.43.

Several research analysts recently weighed in on the company. StockNews.com assumed coverage on Nevro in a research note on Saturday, March 22nd. They set a “hold” rating on the stock. Truist Financial dropped their price target on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup decreased their price objective on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC boosted its position in Nevro by 2.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock worth $24,547,000 after purchasing an additional 102,150 shares in the last quarter. Engaged Capital LLC lifted its stake in shares of Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after purchasing an additional 557,000 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Nevro by 20.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after buying an additional 306,943 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after buying an additional 566,462 shares during the period. Finally, Western Standard LLC purchased a new position in Nevro in the third quarter valued at $5,473,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Nevro Trading Down 0.1 %

Shares of NYSE NVRO opened at $5.85 on Friday. Nevro has a twelve month low of $3.17 and a twelve month high of $14.70. The firm has a market cap of $224.28 million, a PE ratio of -3.09 and a beta of 0.94. The business has a fifty day simple moving average of $5.54 and a two-hundred day simple moving average of $4.96. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last posted its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.15. The business had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Analysts expect that Nevro will post -2.44 earnings per share for the current fiscal year.

Nevro Company Profile

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.