Nevro (NYSE:NVRO) Price Target Cut to $12.00

Nevro (NYSE:NVROFree Report) had its price objective decreased by Piper Sandler from $15.00 to $12.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has an underweight rating on the medical equipment provider’s stock.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Nevro from $18.00 to $16.00 and set a sector perform rating for the company in a research note on Monday, April 15th. Robert W. Baird decreased their price objective on shares of Nevro from $23.00 to $19.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Citigroup dropped their target price on Nevro from $18.00 to $16.00 and set a neutral rating on the stock in a research report on Wednesday, April 3rd. StockNews.com upgraded Nevro from a sell rating to a hold rating in a research note on Friday, March 1st. Finally, Wells Fargo & Company cut their target price on Nevro from $17.00 to $14.00 and set an equal weight rating on the stock in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nevro currently has a consensus rating of Hold and an average price target of $20.00.

Read Our Latest Stock Report on Nevro

Nevro Stock Down 6.9 %

Shares of NYSE NVRO opened at $9.79 on Wednesday. The stock has a fifty day moving average price of $12.95 and a 200 day moving average price of $16.15. The company has a current ratio of 7.38, a quick ratio of 4.94 and a debt-to-equity ratio of 0.77. Nevro has a 12-month low of $9.76 and a 12-month high of $28.89. The company has a market cap of $359.59 million, a P/E ratio of -4.28 and a beta of 0.96.

Nevro (NYSE:NVROGet Free Report) last posted its earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.32. The business had revenue of $101.90 million during the quarter, compared to analyst estimates of $97.90 million. Nevro had a negative return on equity of 27.48% and a negative net margin of 19.17%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.98) earnings per share. Research analysts anticipate that Nevro will post -2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NVRO. Assetmark Inc. raised its stake in Nevro by 30.4% during the fourth quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock worth $67,000 after acquiring an additional 730 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Nevro by 14.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after purchasing an additional 1,430 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nevro by 83.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,970 shares of the medical equipment provider’s stock valued at $192,000 after purchasing an additional 4,547 shares during the period. Versor Investments LP boosted its position in Nevro by 22.9% during the 3rd quarter. Versor Investments LP now owns 11,017 shares of the medical equipment provider’s stock valued at $212,000 after purchasing an additional 2,050 shares during the period. Finally, Natixis Advisors L.P. bought a new position in Nevro during the 3rd quarter worth $248,000. 95.52% of the stock is owned by institutional investors and hedge funds.

About Nevro

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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.

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Analyst Recommendations for Nevro (NYSE:NVRO)

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