Nevro Corp. (NYSE:NVRO) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Nevro Corp. (NYSE:NVRO) have received an average rating of “Reduce” from the fourteen ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $8.05.

Several brokerages recently weighed in on NVRO. JMP Securities reissued a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Morgan Stanley downgraded Nevro from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $7.00 price target on shares of Nevro in a research report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th.

Nevro Price Performance

Shares of NYSE NVRO opened at $4.05 on Wednesday. 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 has a 1-year low of $3.92 and a 1-year high of $22.52. The company has a market capitalization of $151.76 million, a price-to-earnings ratio of -2.14 and a beta of 0.84. The business has a 50-day moving average of $4.74 and a 200-day moving average of $6.42.

Nevro (NYSE:NVRO) last posted 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. 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 firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.65) EPS. On average, equities analysts anticipate that Nevro will post -2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings 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 grew 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 worth $58,000 after purchasing an additional 6,565 shares in the last quarter. Blair William & Co. IL raised its stake in Nevro by 13.9% during the 2nd quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock valued at $500,000 after purchasing an additional 7,250 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Nevro by 345.8% in the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Nevro by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock worth $1,077,000 after buying an additional 8,673 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.