Analysts Set Nevro Corp. (NYSE:NVRO) Price Target at $6.43

Shares of Nevro Corp. (NYSE:NVRO) have received a consensus rating of “Reduce” from the thirteen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.43.

A number of research analysts have commented on NVRO shares. Truist Financial lowered their target price on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price target on shares of Nevro in a research note on Tuesday, November 12th. Morgan Stanley lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Robert W. Baird boosted their target price on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, StockNews.com started coverage on shares of Nevro in a research note on Thursday. They set a “hold” rating on the stock.

Nevro Price Performance

NYSE NVRO opened at $5.78 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The firm has a market capitalization of $216.40 million, a price-to-earnings ratio of -3.06 and a beta of 0.94. The company has a 50 day simple moving average of $4.97 and a 200-day simple moving average of $4.94. Nevro has a 52-week low of $3.17 and a 52-week high of $15.98.

Nevro (NYSE:NVRO) last released its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The company had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. Equities research analysts predict that Nevro will post -2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVRO. Amundi bought a new stake in Nevro during the fourth quarter valued at about $30,000. Oxford Asset Management LLP acquired a new position in shares of Nevro during the 4th quarter worth about $39,000. Corton Capital Inc. bought a new stake in Nevro during the 4th quarter valued at approximately $43,000. Headlands Technologies LLC acquired a new stake in Nevro in the 4th quarter valued at approximately $45,000. Finally, Ieq Capital LLC acquired a new stake in Nevro in the 4th quarter valued at approximately $46,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.