Nevro Corp. (NYSE:NVRO) Receives $6.43 Consensus Target Price from Brokerages

Shares of Nevro Corp. (NYSE:NVRO) have earned a consensus rating of “Reduce” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $6.43.

Several brokerages have recently issued reports on NVRO. Citigroup dropped their target price on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and increased their target price for the company from $4.50 to $5.85 in a research note on Monday, February 10th. JMP Securities reissued a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Truist Financial lowered their price target on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their price objective on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th.

Nevro Stock Down 0.3 %

Shares of NYSE:NVRO opened at $5.78 on Monday. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $4.97 and a two-hundred day simple moving average of $4.94. Nevro has a 12-month low of $3.17 and a 12-month high of $15.25. The stock has a market capitalization of $218.75 million, a price-to-earnings ratio of -3.06 and a beta of 0.94.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The firm had revenue of $105.55 million during the quarter, compared to analyst estimates of $102.61 million. On average, research analysts anticipate that Nevro will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several institutional investors have recently made changes to their positions in NVRO. Amundi bought a new stake in Nevro during the fourth quarter valued at approximately $30,000. Oxford Asset Management LLP purchased a new position in shares of Nevro during the 4th quarter worth $39,000. Corton Capital Inc. purchased a new position in shares of Nevro during the 4th quarter worth $43,000. Headlands Technologies LLC bought a new stake in shares of Nevro during the 4th quarter valued at $45,000. Finally, Ieq Capital LLC purchased a new stake in shares of Nevro in the 4th quarter worth $46,000. 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.