Nevro Corp. (NYSE:NVRO) Given Average Recommendation of “Reduce” by Analysts

Nevro Corp. (NYSE:NVRO) has earned an average rating of “Reduce” from the thirteen research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $6.30.

Several brokerages have recently commented on NVRO. Truist Financial decreased their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 target price on shares of Nevro in a research report on Tuesday, November 12th. Wells Fargo & Company cut their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Canaccord Genuity Group cut their target price on Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, December 9th. Finally, StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th.

Institutional Investors Weigh In On Nevro

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Nevro during the 3rd quarter valued at about $63,000. Intech Investment Management LLC acquired a new stake in shares of Nevro during the 3rd quarter valued at about $69,000. SG Americas Securities LLC acquired a new stake in shares of Nevro during the 3rd quarter valued at about $71,000. Quantbot Technologies LP grew its position in shares of Nevro by 1,290.4% during the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after acquiring an additional 13,381 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Nevro by 345.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after acquiring an additional 8,300 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Stock Performance

Shares of NVRO opened at $3.28 on Friday. Nevro has a 12 month low of $3.16 and a 12 month high of $20.41. The stock has a fifty day moving average price of $4.24 and a 200-day moving average price of $5.74. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The firm has a market cap of $122.91 million, a PE ratio of -1.74 and a beta of 0.86.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. During the same quarter in the prior year, the business posted ($0.65) EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts predict that Nevro will post -2.43 earnings per share for the current fiscal 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.