Nevro Corp. (NYSE:NVRO) Receives $10.55 Average PT from Analysts

by · The Markets Daily

Shares of Nevro Corp. (NYSE:NVRO – Get Free Report) have been given a consensus recommendation of “Reduce” by the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and eleven have issued a hold rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.80.

Several equities research analysts recently commented on NVRO shares. Citigroup cut their price objective on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Morgan Stanley cut their price objective on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. JMP Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company cut shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th. Finally, Piper Sandler lowered their price target on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th.

Get Our Latest Stock Report on NVRO

Nevro Stock Down 3.3 %

Shares of NVRO stock opened at $5.35 on Tuesday. The firm’s 50 day moving average price is $5.30 and its two-hundred day moving average price is $7.72. Nevro has a 52-week low of $4.38 and a 52-week high of $22.64. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66.

Nevro (NYSE:NVRO – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. The company had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.69) earnings per share. As a group, equities analysts forecast that Nevro will post -2.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVRO. BNP Paribas Financial Markets boosted its holdings in shares of Nevro by 189.3% during the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock worth $745,000 after buying an additional 33,760 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings 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 worth $444,000 after buying an additional 9,586 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Nevro during the 1st quarter worth about $1,446,000. State Board of Administration of Florida Retirement System boosted its holdings 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 worth $167,000 after buying an additional 1,430 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of 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 buying an additional 13,750 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Company Profile

(Get Free Report

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.

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