Nevro’s (NVRO) “Market Perform” Rating Reiterated at JMP Securities

Nevro (NYSE:NVRO)‘s stock had its “market perform” rating reaffirmed by investment analysts at JMP Securities in a report released on Tuesday,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Morgan Stanley cut their target price on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Canaccord Genuity Group reduced their target price on shares of Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday. Piper Sandler lowered their price target on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Citigroup reduced their price objective on Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to MarketBeat.com, Nevro currently has an average rating of “Hold” and a consensus target price of $9.10.

Nevro Stock Down 12.1 %

Nevro stock opened at $4.45 on Tuesday. Nevro has a fifty-two week low of $4.38 and a fifty-two week high of $22.64. The firm has a market capitalization of $165.91 million, a PE ratio of -2.35 and a beta of 0.93. The company’s 50-day moving average is $5.23 and its 200-day moving average is $7.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.35% and a negative net margin of 16.54%. The firm had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same quarter in the previous year, the business earned ($0.65) earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Nevro will post -2.6 earnings per share for the current year.

Institutional Investors Weigh In On Nevro

A number of large investors have recently added to or reduced their stakes in NVRO. BNP Paribas Financial Markets raised its holdings in Nevro by 189.3% in the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock valued at $745,000 after acquiring an additional 33,760 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Nevro by 45.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 9,586 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake 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 valued at $167,000 after purchasing an additional 1,430 shares in the last quarter. Blair William & Co. IL lifted its position in Nevro by 35.8% during the first quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock worth $753,000 after purchasing an additional 13,750 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Nevro by 48.2% during the first quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider’s stock worth $1,369,000 after buying an additional 30,863 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.