Nevro Corp. (NYSE:NVRO) Given Average Recommendation of “Reduce” by Brokerages

Nevro Corp. (NYSE:NVRO) has earned a consensus recommendation of “Reduce” from the thirteen analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $6.30.

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their price target 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. Truist Financial lowered their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Canaccord Genuity Group reduced their target price on shares of Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, December 9th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th.

Institutional Trading of Nevro

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC acquired a new position in shares of Nevro during the 4th quarter worth $46,000. Virtu Financial LLC acquired a new position in shares of Nevro during the 3rd quarter worth approximately $63,000. SG Americas Securities LLC lifted its stake in Nevro by 34.6% in the 4th quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after buying an additional 4,406 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Nevro during the 3rd quarter valued at $69,000. Finally, Quantbot Technologies LP increased its position in Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 13,381 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Stock Performance

Shares of Nevro stock opened at $5.03 on Thursday. The business’s fifty day simple moving average is $4.24 and its 200-day simple moving average is $5.24. 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 firm has a market cap of $188.29 million, a PE ratio of -2.66 and a beta of 0.91. Nevro has a 52 week low of $3.16 and a 52 week high of $17.75.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. The business had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.65) earnings per share. Equities analysts forecast that Nevro will post -2.44 earnings per share for the current year.

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.