Nevro Corp. (NYSE:NVRO) Receives $21.54 Average Price Target from Brokerages

Shares of Nevro Corp. (NYSE:NVRO) have received a consensus rating of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $21.23.

Several analysts have recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Nevro from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Monday. Truist Financial raised their price objective on shares of Nevro from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Canaccord Genuity Group downgraded shares of Nevro from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Thursday, December 21st. Mizuho cut their target price on Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, Oppenheimer cut Nevro from an “outperform” rating to a “market perform” rating in a report on Thursday, February 22nd.

Nevro Trading Up 0.2 %

NVRO opened at $12.32 on Friday. Nevro has a twelve month low of $12.05 and a twelve month high of $39.67. The company has a 50-day simple moving average of $14.53 and a 200 day simple moving average of $16.83. The company has a quick ratio of 4.94, a current ratio of 6.37 and a debt-to-equity ratio of 0.72.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.35. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The business had revenue of $116.18 million during the quarter, compared to analysts’ expectations of $115.93 million. On average, research analysts predict that Nevro will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

Large investors have recently bought and sold shares of the stock. Palo Alto Investors LP lifted its stake in Nevro by 107.7% during the 3rd quarter. Palo Alto Investors LP now owns 386,832 shares of the medical equipment provider’s stock valued at $7,435,000 after acquiring an additional 200,573 shares in the last quarter. Swiss National Bank lifted its stake in Nevro by 1.3% during the 3rd quarter. Swiss National Bank now owns 78,800 shares of the medical equipment provider’s stock valued at $1,515,000 after acquiring an additional 1,000 shares in the last quarter. Walleye Capital LLC lifted its stake in Nevro by 301.4% during the 3rd quarter. Walleye Capital LLC now owns 118,764 shares of the medical equipment provider’s stock valued at $2,283,000 after acquiring an additional 89,179 shares in the last quarter. UBS Group AG raised its stake in shares of Nevro by 19,354.5% during the 3rd quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider’s stock worth $17,361,000 after purchasing an additional 898,629 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in shares of Nevro during the 3rd quarter worth $248,000. 95.52% of the stock is currently owned by institutional investors.

About Nevro

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.