Nevro (NYSE:NVRO) Price Target Raised to $6.00

Nevro (NYSE:NVRO) had its target price raised by Robert W. Baird from $5.00 to $6.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the medical equipment provider’s stock.

Several other brokerages have also commented on NVRO. Citigroup decreased their price objective on Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Morgan Stanley decreased their price objective on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $13.00 to $5.50 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. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.10.

Nevro Stock Down 8.7 %

Shares of NYSE NVRO opened at $4.07 on Tuesday. The company has a quick ratio of 3.53, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro has a twelve month low of $4.00 and a twelve month high of $22.64. The business has a fifty day simple moving average of $5.21 and a two-hundred day simple moving average of $7.42.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The company had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. Nevro’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts predict that Nevro will post -2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVRO. BNP Paribas Financial Markets raised its stake in shares of Nevro by 189.3% during the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock worth $745,000 after buying an additional 33,760 shares during the period. Oppenheimer Asset Management Inc. raised its position in Nevro by 45.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock worth $444,000 after acquiring an additional 9,586 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Nevro by 14.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 1,430 shares in the last quarter. Blair William & Co. IL grew its position in shares of Nevro by 35.8% in the first quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock valued at $753,000 after purchasing an additional 13,750 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Nevro by 48.2% during the first quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider’s stock worth $1,369,000 after purchasing an additional 30,863 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.