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

Shares of Nevro Corp. (NYSE:NVRO) have received an average rating of “Reduce” from the thirteen research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.43.

Several brokerages recently issued reports on NVRO. Canaccord Genuity Group upped their price objective on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Truist Financial reduced their price target on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup lowered their price objective on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Finally, Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $9.00 to $4.00 in a report on Monday, December 2nd.

Nevro Stock Up 0.1 %

Shares of NYSE:NVRO opened at $5.85 on Friday. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $224.28 million, a P/E ratio of -3.09 and a beta of 0.94. Nevro has a 52-week low of $3.17 and a 52-week high of $14.43. The stock’s fifty day simple moving average is $5.56 and its 200-day simple moving average is $4.96.

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

Institutional Trading of Nevro

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Western Standard LLC purchased a new stake in Nevro during the third quarter worth approximately $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nevro by 130.7% during the 3rd 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 acquiring an additional 566,462 shares in the last quarter. Engaged Capital LLC boosted its position in Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after purchasing an additional 557,000 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in Nevro in the 4th quarter valued at $1,976,000. Finally, D. E. Shaw & Co. Inc. raised its position in Nevro by 20.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock valued at $6,709,000 after purchasing an additional 306,943 shares during the period. Institutional investors and hedge funds 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.