Nevro Corp. (NYSE:NVRO) Given Consensus Recommendation of “Reduce” by Analysts

Nevro Corp. (NYSE:NVRO) has earned an average rating of “Reduce” from the fourteen research firms that are currently covering the company, Marketbeat Ratings 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 objective among analysts that have covered the stock in the last year is $10.63.

Several equities analysts have recently issued reports on the company. JMP Securities cut Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th. Truist Financial dropped their target price on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Robert W. Baird reduced their price target on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th.

Nevro Trading Up 2.2 %

Shares of NVRO opened at $5.47 on Thursday. The firm has a fifty day simple moving average of $8.20 and a two-hundred day simple moving average of $11.25. Nevro has a twelve month low of $4.38 and a twelve month high of $22.64. The stock has a market capitalization of $200.91 million, a P/E ratio of -2.39 and a beta of 0.91. The company has a quick ratio of 5.57, a current ratio of 7.38 and a debt-to-equity ratio of 0.77.

Nevro (NYSE:NVRO) last posted its 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. Nevro had a negative net margin of 19.17% and a negative return on equity of 27.48%. The company had revenue of $104.16 million during the quarter, compared to analyst estimates of $107.11 million. During the same period in the prior year, the business posted ($0.69) earnings per share. Nevro’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts anticipate that Nevro will post -2.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVRO. Assetmark Inc. raised its position in Nevro by 30.4% in the 4th quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock worth $67,000 after buying an additional 730 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Nevro by 14.1% in 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 purchasing an additional 1,430 shares during the period. Rhumbline Advisers raised its stake in Nevro by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after buying an additional 2,836 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Nevro by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 720,529 shares of the medical equipment provider’s stock valued at $15,506,000 after buying an additional 3,086 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Nevro by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 280,528 shares of the medical equipment provider’s stock worth $6,037,000 after acquiring an additional 3,860 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

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.