Nevro Corp. (NYSE:NVRO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Nevro Corp. (NYSE:NVRO) have received an average recommendation of “Hold” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $27.50.

NVRO has been the subject of a number of recent research reports. JMP Securities cut their target price on Nevro from $75.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Robert W. Baird cut their price objective on shares of Nevro from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, August 2nd. Oppenheimer cut their price target on shares of Nevro from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Truist Financial cut their price target on shares of Nevro from $18.50 to $17.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Finally, Canaccord Genuity Group cut their target price on Nevro from $68.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVRO. Quarry LP grew its stake in shares of Nevro by 174.3% during the second quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 643 shares in the last quarter. UBS Group AG grew its stake in shares of Nevro by 206.3% in the 4th quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 821 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Nevro by 42.7% in the first quarter. Assetmark Inc. now owns 1,624 shares of the medical equipment provider’s stock valued at $59,000 after purchasing an additional 486 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Nevro during the first quarter worth approximately $80,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Nevro during the first quarter worth approximately $170,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Stock Performance

NYSE NVRO opened at $16.58 on Tuesday. The company has a market cap of $600.36 million, a PE ratio of -5.80 and a beta of 0.88. The stock’s 50 day simple moving average is $17.40 and its 200-day simple moving average is $21.50. Nevro has a 1-year low of $13.98 and a 1-year high of $48.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 6.55 and a quick ratio of 5.01.

Nevro (NYSE:NVRO) last issued its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.12. Nevro had a negative net margin of 24.22% and a negative return on equity of 33.99%. The business had revenue of $103.86 million during the quarter, compared to analysts’ expectations of $95.87 million. During the same period in the prior year, the business earned ($0.62) earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Nevro will post -2.83 EPS for the current fiscal year.

Nevro Company Profile

Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation system for the treatment of chronic pain, as well as Senza II and Senza Omnia SCS systems.