Nevro (NYSE:NVRO) Reaches New 1-Year Low at $26.38

Nevro Corp. (NYSE:NVRO – Get Rating)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $26.38 and last traded at $26.80, with a volume of 101435 shares changing hands. The stock had previously closed at $27.04.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Nevro in a report on Thursday, May 18th. They set a “hold” rating on the stock. Truist Financial lowered their target price on shares of Nevro from $40.00 to $32.00 in a report on Thursday, May 18th. Piper Sandler lowered their target price on shares of Nevro from $37.00 to $34.00 in a report on Thursday, April 27th. Oppenheimer raised shares of Nevro from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, May 15th. Finally, Mizuho assumed coverage on shares of Nevro in a report on Thursday, April 13th. They set a “neutral” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.09.

Nevro Trading Down 1.3 %

The firm has a market cap of $954.60 million, a price-to-earnings ratio of -2,665.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.15 and a quick ratio of 5.63. The firm’s fifty day moving average is $31.56 and its 200-day moving average is $36.17.

Nevro (NYSE:NVRO – Get Rating) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.08. The business had revenue of $96.33 million for the quarter, compared to analyst estimates of $95.35 million. Nevro had a net margin of 0.55% and a negative return on equity of 34.61%. Nevro’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.98) earnings per share. Equities analysts anticipate that Nevro Corp. will post -2.45 earnings per share for the current year.

Institutional Investors Weigh In On Nevro

Several hedge funds and other institutional investors have recently bought and sold shares of NVRO. HighTower Advisors LLC increased its stake in Nevro by 15.7% in the first quarter. HighTower Advisors LLC now owns 17,629 shares of the medical equipment provider’s stock valued at $1,275,000 after purchasing an additional 2,391 shares in the last quarter. Bank of Montreal Can increased its position in shares of Nevro by 171.3% during the first quarter. Bank of Montreal Can now owns 40,680 shares of the medical equipment provider’s stock worth $2,952,000 after acquiring an additional 25,684 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Nevro by 56.5% during the first quarter. MetLife Investment Management LLC now owns 18,940 shares of the medical equipment provider’s stock worth $1,370,000 after purchasing an additional 6,838 shares during the last quarter. BlackRock Inc. boosted its holdings in Nevro by 13.7% during the first quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock worth $341,322,000 after purchasing an additional 568,749 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in Nevro by 4.1% during the first quarter. Blair William & Co. IL now owns 50,995 shares of the medical equipment provider’s stock worth $3,688,000 after purchasing an additional 2,020 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Nevro Company Profile

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Nevro Corp. engages in the development of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes the senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.