JMP Securities reaffirmed their market perform rating on shares of Nevro (NYSE:NVRO – Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports.
Several other analysts have also recently issued reports on the stock. Canaccord Genuity Group decreased their target price on shares of Nevro from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $7.00 price objective on shares of Nevro in a research report on Tuesday. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research note on Saturday. Truist Financial cut their target price on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $13.00 to $5.50 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, Nevro currently has a consensus rating of “Hold” and a consensus price target of $9.10.
View Our Latest Analysis on Nevro
Nevro Price Performance
Nevro (NYSE:NVRO – Get Free Report) last posted its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. The firm had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative return on equity of 23.35% and a negative net margin of 16.54%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.65) EPS. On average, research analysts expect that Nevro will post -2.6 EPS for the current fiscal year.
Hedge Funds Weigh In On Nevro
Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Nevro by 1,788.8% in the second 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. Intech Investment Management LLC bought a new position in shares of Nevro during the 3rd quarter worth $69,000. SG Americas Securities LLC purchased a new position in shares of Nevro during the third quarter valued at $71,000. Canada Pension Plan Investment Board raised 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 acquiring an additional 8,300 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Nevro by 14.1% in the first 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 acquiring an additional 1,430 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.
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.
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