Analysts Set Nevro Corp. (NYSE:NVRO) Target Price at $9.10

Nevro Corp. (NYSE:NVRO) has been assigned an average recommendation of “Reduce” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.10.

NVRO has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $7.00 target price on shares of Nevro in a research note on Tuesday, November 12th. Wells Fargo & Company downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $13.00 to $5.50 in a research note on Wednesday, August 7th. Piper Sandler lowered their price target on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Finally, Truist Financial decreased their price objective on shares of Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, August 8th.

Institutional Investors Weigh In On Nevro

Several institutional investors and hedge funds have recently modified their holdings of the stock. Western Standard LLC purchased a new position in shares of Nevro in the third quarter valued at $5,473,000. Assenagon Asset Management S.A. raised its stake in Nevro by 490.7% during the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after buying an additional 605,134 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Nevro by 130.7% in the third 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 worth $5,590,000 after acquiring an additional 566,462 shares during the last quarter. Engaged Capital LLC increased its holdings in shares of Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after acquiring an additional 557,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Nevro by 50.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock valued at $4,096,000 after acquiring an additional 246,979 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Stock Performance

NVRO opened at $4.58 on Friday. The firm’s fifty day simple moving average is $5.02 and its two-hundred day simple moving average is $6.97. Nevro has a 52-week low of $3.95 and a 52-week high of $22.64. The company has a market cap of $171.61 million, a price-to-earnings ratio of -2.42 and a beta of 0.93. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

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

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.