Brokerages Set Nevro Corp. (NYSE:NVRO) PT at $10.63

Shares of Nevro Corp. (NYSE:NVRO) have been assigned a consensus recommendation of “Reduce” from the fourteen research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $10.63.

NVRO has been the topic of several research reports. StockNews.com downgraded shares of Nevro from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Robert W. Baird dropped their target price on Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Morgan Stanley dropped their price objective on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On Nevro

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. increased its position in shares of 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 boosted its stake 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 valued at $167,000 after buying an additional 1,430 shares during the period. Rhumbline Advisers grew its position in shares of Nevro by 5.0% during the second quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after buying an additional 2,836 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Nevro by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 720,529 shares of the medical equipment provider’s stock worth $15,506,000 after buying an additional 3,086 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Nevro by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 280,528 shares of the medical equipment provider’s stock valued at $6,037,000 after acquiring an additional 3,860 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Trading Up 13.5 %

NVRO stock opened at $5.79 on Monday. Nevro has a 52-week low of $4.38 and a 52-week high of $22.64. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The firm has a market cap of $215.85 million, a P/E ratio of -2.53 and a beta of 0.94. The company’s 50-day simple moving average is $7.16 and its 200-day simple moving average is $9.89.

Nevro (NYSE:NVRO) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. The business had revenue of $104.16 million during the quarter, compared to analysts’ expectations of $107.11 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.69) earnings per share. As a group, equities analysts forecast that Nevro will post -2.6 EPS for the current fiscal year.

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.