Nevro’s (NVRO) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Nevro (NYSE:NVRO) in a research note released on Tuesday,Benzinga reports. They currently have a $7.00 price target on the medical equipment provider’s stock.

A number of other research firms have also recently commented on NVRO. Citigroup reduced their target price on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. JMP Securities lowered Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler decreased their price target on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.10.

Nevro Trading Down 8.7 %

NVRO stock opened at $4.07 on Tuesday. Nevro has a twelve month low of $4.00 and a twelve month high of $22.64. The company has a quick ratio of 3.53, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The stock has a 50-day simple moving average of $5.21 and a two-hundred day simple moving average of $7.42.

Nevro (NYSE:NVRO) last announced its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. The business had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Nevro’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted ($0.65) earnings per share. As a group, sell-side analysts predict that Nevro will post -2.46 EPS for the current year.

Institutional Trading of Nevro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVRO. Nisa Investment Advisors LLC raised its holdings in Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Nevro by 345.8% in the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 8,300 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Nevro by 14.1% in the first 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. Intech Investment Management LLC bought a new stake in Nevro during the 3rd quarter valued at approximately $69,000. Finally, SG Americas Securities LLC purchased a new position in shares of Nevro during the 3rd quarter worth approximately $71,000. 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.