Nevro Corp. (NYSE:NVRO) Receives Average Rating of “Reduce” from Brokerages

Shares of Nevro Corp. (NYSE:NVRO) have been given a consensus rating of “Reduce” by the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $9.10.

Several analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Robert W. Baird increased their price objective on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System raised its holdings in shares of Nevro by 14.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after buying an additional 1,430 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Nevro by 5.0% during the second quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after acquiring an additional 2,836 shares during the period. Nisa Investment Advisors LLC lifted its position in Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Nevro by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after acquiring an additional 7,004 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Nevro by 13.9% in the 2nd quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 7,250 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Trading Up 3.9 %

NYSE NVRO opened at $4.53 on Friday. The firm’s fifty day moving average is $5.13 and its two-hundred day moving average is $7.16. Nevro has a one year low of $3.95 and a one year high of $22.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The firm has a market cap of $169.75 million, a PE ratio of -2.40 and a beta of 0.93.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40. The company had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.65) EPS. Analysts expect that Nevro will post -2.43 earnings per share for the current year.

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.