Brokerages Set Nevro Corp. (NYSE:NVRO) PT at $9.10

Nevro Corp. (NYSE:NVRO) has been assigned a consensus recommendation of “Reduce” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.10.

A number of research firms have recently issued reports on NVRO. Robert W. Baird boosted their price objective on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th. Piper Sandler dropped their price target on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. downgraded Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th.

Nevro Price Performance

Shares of Nevro stock opened at $4.55 on Friday. The firm has a fifty day moving average price of $5.10 and a two-hundred day moving average price of $7.06. Nevro has a fifty-two week low of $3.95 and a fifty-two week high of $22.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The company has a market cap of $170.49 million, a PE ratio of -2.52 and a beta of 0.93.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating the consensus estimate 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 net margin of 16.54% and a negative return on equity of 23.52%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.65) earnings per share. Analysts expect that Nevro will post -2.43 EPS for the current year.

Hedge Funds Weigh In On Nevro

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in shares of Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares in the last quarter. Virtu Financial LLC bought a new position in Nevro in the 3rd quarter valued at $63,000. Intech Investment Management LLC acquired a new stake in shares of Nevro in the 3rd quarter valued at $69,000. SG Americas Securities LLC bought a new stake in shares of Nevro during the third quarter worth $71,000. Finally, Quantbot Technologies LP lifted 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 acquiring an additional 13,381 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.