Nevro Corp. (NYSE:NVRO) Given Average Recommendation of “Reduce” by Analysts

Shares of Nevro Corp. (NYSE:NVRO) have earned a consensus rating of “Reduce” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $6.43.

A number of equities analysts recently commented on the company. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $6.00 to $5.85 in a research note on Friday, February 7th. Truist Financial lowered their price target on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a report on Wednesday, December 18th. StockNews.com began coverage on Nevro in a research note on Sunday. They set a “hold” rating on the stock. Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and boosted their target price for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Finally, Wells Fargo & Company reduced their price target 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.

Nevro Price Performance

NVRO stock opened at $5.85 on Friday. The company has a market capitalization of $224.28 million, a PE ratio of -3.09 and a beta of 0.94. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $5.61 and its two-hundred day moving average is $4.97. Nevro has a 52-week low of $3.17 and a 52-week high of $13.84.

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

Institutional Investors Weigh In On Nevro

Several large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Nevro by 130.7% in the 3rd 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 worth $5,590,000 after buying an additional 566,462 shares in the last quarter. Western Standard LLC bought a new position in shares of Nevro in the third quarter worth $5,473,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Nevro by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock valued at $1,698,000 after purchasing an additional 11,369 shares during the period. Engaged Capital LLC raised its stake in shares of Nevro by 29.5% during the third 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Nevro by 50.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock worth $4,096,000 after purchasing an additional 246,979 shares during the period. 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.