Nevro (NYSE:NVRO) Given New $8.00 Price Target at Robert W. Baird

Nevro (NYSE:NVRO) had its price objective reduced by Robert W. Baird from $11.00 to $8.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the medical equipment provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 57.79% from the stock’s current price.

Several other analysts also recently commented on NVRO. Piper Sandler dropped their price objective on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday. Truist Financial cut their target price on shares of Nevro from $11.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Citigroup lowered their price target on shares of Nevro from $9.00 to $8.20 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley dropped their price target on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Royal Bank of Canada decreased their price objective on shares of Nevro from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Monday, April 15th. Four research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.97.

Nevro Stock Performance

NVRO stock traded down $3.62 during trading on Wednesday, reaching $5.07. The company had a trading volume of 3,168,403 shares, compared to its average volume of 539,392. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.57 and a current ratio of 7.38. Nevro has a twelve month low of $4.43 and a twelve month high of $22.64. The company has a market cap of $186.22 million, a price-to-earnings ratio of -2.31 and a beta of 0.91. The firm has a 50-day simple moving average of $9.06 and a 200-day simple moving average of $12.22.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.10. The business had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. Nevro had a negative net margin of 19.17% and a negative return on equity of 27.48%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.69) earnings per share. As a group, sell-side analysts expect that Nevro will post -2.14 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in Nevro by 154.1% during the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 146,276 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Nevro by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after acquiring an additional 2,836 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Nevro by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock worth $1,077,000 after acquiring an additional 8,673 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 6,565 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after purchasing an additional 605,134 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.