Nevro Corp. (NYSE:NVRO) Receives $10.55 Consensus Price Target from Analysts

Shares of Nevro Corp. (NYSE:NVRO) have been assigned a consensus rating of “Reduce” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.55.

A number of analysts have issued reports on NVRO shares. Royal Bank of Canada cut their target price on Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley dropped their target price on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Citigroup decreased their target price on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Finally, Piper Sandler decreased their target price on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Nevro by 189.3% in the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock valued at $745,000 after acquiring an additional 33,760 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Nevro by 45.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock valued at $444,000 after buying an additional 9,586 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Nevro during the 1st quarter valued at $1,446,000. State Board of Administration of Florida Retirement System grew its stake in shares of Nevro by 14.1% during 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. Finally, Blair William & Co. IL boosted its position in Nevro by 35.8% during the 1st quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock worth $753,000 after purchasing an additional 13,750 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Trading Up 2.0 %

NVRO opened at $5.51 on Tuesday. Nevro has a one year low of $4.38 and a one year high of $22.64. The stock has a market capitalization of $205.41 million, a PE ratio of -2.54 and a beta of 0.94. The business’s 50 day moving average price is $5.31 and its 200 day moving average price is $7.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77.

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