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

Nevro Corp. (NYSE:NVRO) has earned an average recommendation of “Reduce” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.43.

Several equities analysts have weighed in on NVRO shares. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $6.00 to $5.85 in a report on Friday, February 7th. Citigroup dropped their target price on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. StockNews.com began coverage on Nevro in a report on Saturday, March 22nd. They set a “hold” rating on the stock. Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $4.50 to $5.85 in a research report on Monday, February 10th. Finally, Wells Fargo & Company cut their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th.

Nevro Trading Down 0.1 %

Shares of NVRO stock opened at $5.85 on Friday. 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 company has a market cap of $224.28 million, a price-to-earnings ratio of -3.09 and a beta of 0.94. Nevro has a 1 year low of $3.17 and a 1 year high of $14.70. The firm has a fifty day moving average price of $5.54 and a 200-day moving average price of $4.96.

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

Hedge Funds Weigh In On Nevro

Several institutional investors have recently bought and sold shares of NVRO. Algert Global LLC raised its position in shares of Nevro by 7.2% during the 4th quarter. Algert Global LLC now owns 61,233 shares of the medical equipment provider’s stock valued at $228,000 after buying an additional 4,120 shares in the last quarter. American Century Companies Inc. raised its position in Nevro by 12.9% during the fourth quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock valued at $138,000 after purchasing an additional 4,224 shares during the period. SG Americas Securities LLC lifted its stake in shares of Nevro by 34.6% in the 4th quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after purchasing an additional 4,406 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Nevro by 29.9% during the 4th quarter. Wells Fargo & Company MN now owns 21,595 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 4,971 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in Nevro by 59.9% during the 4th quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock valued at $67,000 after buying an additional 6,725 shares during the period. 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.