Nevro Corp. (NYSE:NVRO) Receives $10.55 Average PT from Analysts

Shares of Nevro Corp. (NYSE:NVRO) have received an average rating of “Reduce” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and eleven have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $9.80.

A number of equities research analysts have recently weighed in on NVRO shares. Morgan Stanley dropped their price target on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Citigroup cut their price target on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Robert W. Baird lowered their price objective on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Truist Financial dropped their price objective on shares of Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, JMP Securities lowered Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th.

Institutional Trading of Nevro

A number of hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in Nevro by 27.6% in the third quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock valued at $5,195,000 after acquiring an additional 200,885 shares during the period. SG Americas Securities LLC purchased a new stake in Nevro during the third quarter worth $71,000. Point72 Asset Management L.P. boosted its holdings in Nevro by 3,446.5% during the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after buying an additional 148,200 shares in the last quarter. Algert Global LLC increased its holdings in Nevro by 57.3% in the second quarter. Algert Global LLC now owns 216,572 shares of the medical equipment provider’s stock valued at $1,824,000 after buying an additional 78,895 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Nevro by 18.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 118,574 shares of the medical equipment provider’s stock worth $998,000 after acquiring an additional 18,458 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Trading Up 0.4 %

NYSE:NVRO opened at $5.53 on Tuesday. The stock has a market capitalization of $206.16 million, a price-to-earnings ratio of -2.60 and a beta of 0.93. Nevro has a 52 week low of $4.38 and a 52 week 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. The firm has a 50 day moving average of $5.31 and a 200 day moving average of $7.80.

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