Nevro Corp. (NYSE:NVRO) Receives $8.05 Average PT from Analysts

Shares of Nevro Corp. (NYSE:NVRO) have received a consensus recommendation of “Reduce” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.30.

A number of equities research analysts have weighed in on NVRO shares. Wells Fargo & Company lowered their price objective on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Piper Sandler lowered their price objective on Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. Robert W. Baird raised their price objective on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group lowered their price objective on Nevro from $7.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Citigroup lowered their price objective on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th.

Nevro Price Performance

NVRO stock opened at $3.79 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro has a 1 year low of $3.52 and a 1 year high of $22.52. The firm has a market cap of $142.02 million, a P/E ratio of -2.01 and a beta of 0.84. The stock has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $6.27.

Nevro (NYSE:NVRO) last posted its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. During the same quarter last year, the firm earned ($0.65) earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities analysts predict that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Trading of Nevro

Several hedge funds have recently made changes to their positions in NVRO. Nisa Investment Advisors LLC lifted its holdings in shares of Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Nevro in the 3rd quarter worth approximately $63,000. Intech Investment Management LLC bought a new stake in shares of Nevro in the 3rd quarter worth approximately $69,000. SG Americas Securities LLC bought a new stake in shares of Nevro in the 3rd quarter worth approximately $71,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after purchasing an additional 13,381 shares during the last quarter. Institutional investors 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.