Nevro Corp. (NYSE:NVRO) Receives $10.63 Consensus Target Price from Brokerages

Nevro Corp. (NYSE:NVRO) has been assigned an average rating of “Reduce” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.63.

Several research firms recently commented on NVRO. Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $13.00 to $5.50 in a research note on Wednesday, August 7th. Robert W. Baird cut their price target on Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Piper Sandler lowered their price objective on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Truist Financial cut their target price on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price target on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Truist Financial Corp increased its position in shares of Nevro by 27.3% in the fourth quarter. Truist Financial Corp now owns 38,496 shares of the medical equipment provider’s stock worth $828,000 after purchasing an additional 8,247 shares during the last quarter. Natixis Advisors L.P. raised its position in shares of Nevro by 119.1% during the 4th quarter. Natixis Advisors L.P. now owns 28,294 shares of the medical equipment provider’s stock valued at $608,000 after buying an additional 15,380 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Nevro by 29.9% during the 4th quarter. M&T Bank Corp now owns 40,639 shares of the medical equipment provider’s stock worth $875,000 after acquiring an additional 9,345 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Nevro by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 280,528 shares of the medical equipment provider’s stock worth $6,037,000 after acquiring an additional 3,860 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Nevro in the fourth quarter valued at $893,000. Institutional investors own 95.52% of the company’s stock.

Nevro Stock Performance

NVRO stock opened at $4.72 on Monday. The business has a 50 day moving average of $7.28 and a 200-day moving average of $10.06. The firm has a market cap of $175.96 million, a PE ratio of -2.06 and a beta of 0.95. Nevro has a 12-month low of $4.38 and a 12-month high of $22.64. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66.

Nevro (NYSE:NVRO) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.10. The firm had revenue of $104.16 million during the quarter, compared to analyst estimates of $107.11 million. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.69) EPS. As a group, sell-side analysts expect that Nevro will post -2.6 earnings per share for the current 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.