Analysts Set Nevro Corp. (NYSE:NVRO) PT at $6.43

Nevro Corp. (NYSE:NVRO) has been given a consensus recommendation of “Reduce” by the thirteen analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $6.43.

NVRO has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price objective on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $7.00 target price on shares of Nevro in a research report on Tuesday, November 12th. Wells Fargo & Company decreased their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Finally, Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th.

Nevro Price Performance

Shares of Nevro stock opened at $5.79 on Monday. The stock’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $4.94. Nevro has a 52 week low of $3.17 and a 52 week high of $15.98. The company has a market capitalization of $216.78 million, a price-to-earnings ratio of -3.06 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.

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

Institutional Investors Weigh In On Nevro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVRO. Intech Investment Management LLC purchased a new stake in Nevro during the third quarter valued at approximately $69,000. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 11,369 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after buying an additional 13,381 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Nevro by 171.3% during the third quarter. BNP Paribas Financial Markets now owns 135,145 shares of the medical equipment provider’s stock valued at $755,000 after buying an additional 85,324 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Nevro by 130.7% during the third 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 valued at $5,590,000 after buying an additional 566,462 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.