Nevro (NYSE:NVRO) Given New $4.70 Price Target at Truist Financial

Nevro (NYSE:NVRO) had its price objective trimmed by Truist Financial from $7.00 to $4.70 in a research note released on Wednesday,Benzinga reports. The firm currently has a hold rating on the medical equipment provider’s stock.

A number of other analysts also recently issued reports on NVRO. Piper Sandler reduced their price objective on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $7.00 price target on shares of Nevro in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Canaccord Genuity Group reduced their target price on shares of Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, December 9th. Finally, Citigroup lowered their price target on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.97.

Nevro Price Performance

NVRO stock opened at $3.79 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The company’s fifty day moving average price is $4.66 and its 200-day moving average price is $6.31. Nevro has a one year low of $3.52 and a one year high of $22.52. The company has a market capitalization of $142.02 million, a PE ratio of -2.01 and a beta of 0.84.

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

Hedge Funds Weigh In On Nevro

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in Nevro by 1,788.8% in the second 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 during the period. Virtu Financial LLC bought a new position in shares of Nevro in the third quarter worth about $63,000. Intech Investment Management LLC purchased a new position in Nevro in the 3rd quarter worth about $69,000. SG Americas Securities LLC purchased a new position in Nevro in the 3rd quarter worth about $71,000. Finally, Quantbot Technologies LP lifted its holdings in Nevro by 1,290.4% during the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after buying an additional 13,381 shares in the last quarter. 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.