Nevro (NYSE:NVRO) Price Target Raised to $5.85

Nevro (NYSE:NVRO) had its target price boosted by Canaccord Genuity Group from $4.00 to $5.85 in a report issued on Friday morning,Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

NVRO has been the subject of a number of other research reports. Citigroup lowered their target price on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed 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 decreased their price objective on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Robert W. Baird upped their price target on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Nevro presently has an average rating of “Hold” and a consensus target price of $6.49.

Nevro Stock Performance

Shares of NVRO opened at $5.72 on Friday. The firm’s 50 day simple moving average is $4.30 and its 200 day simple moving average is $5.18. The company has a market capitalization of $214.33 million, a P/E ratio of -3.03 and a beta of 0.91. Nevro has a 1-year low of $3.16 and a 1-year high of $17.75. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76.

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

Hedge Funds Weigh In On Nevro

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in Nevro in the second quarter worth approximately $470,000. SG Americas Securities LLC purchased a new stake in shares of Nevro in the 3rd quarter worth $71,000. Assenagon Asset Management S.A. raised its holdings in Nevro by 27.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock worth $5,195,000 after purchasing an additional 200,885 shares during the period. Intech Investment Management LLC purchased a new position in Nevro during the third quarter valued at $69,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Nevro by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock valued at $1,698,000 after purchasing an additional 11,369 shares during the period. 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.