Nevro Corp. (NYSE:NVRO) Receives $9.10 Average Target Price from Analysts

Nevro Corp. (NYSE:NVRO) has been given an average recommendation of “Reduce” by the fourteen analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.10.

NVRO has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $7.00 price target on shares of Nevro in a research note on Tuesday, November 12th. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Robert W. Baird raised their price objective on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Truist Financial decreased their target price on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research note on Thursday, August 8th.

Nevro Price Performance

NVRO opened at $4.55 on Friday. The company has a fifty day moving average price of $5.10 and a two-hundred day moving average price of $7.06. The firm has a market capitalization of $170.49 million, a PE ratio of -2.52 and a beta of 0.93. Nevro has a 52 week low of $3.95 and a 52 week high of $22.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. During the same period in the previous year, the firm earned ($0.65) earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, analysts anticipate that Nevro will post -2.43 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

Several hedge funds have recently made changes to their positions in NVRO. ArrowMark Colorado Holdings LLC lifted its position in shares of Nevro by 2.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock worth $24,547,000 after purchasing an additional 102,150 shares in the last quarter. Armistice Capital LLC lifted its position in Nevro by 1.3% during the 2nd quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock worth $30,918,000 after buying an additional 48,000 shares in the last quarter. Engaged Capital LLC boosted its stake in shares of 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 buying an additional 557,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Nevro by 130.7% in 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. Finally, Western Standard LLC bought a new position in shares of Nevro in the 3rd quarter valued at about $5,473,000. 95.52% of the stock is owned by institutional investors.

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.