Brokerages Set Nevro Corp. (NYSE:NVRO) PT at $6.30

Nevro Corp. (NYSE:NVRO) has earned an average recommendation of “Reduce” from the thirteen brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.30.

Several equities research analysts have weighed in on the company. Piper Sandler cut their price target on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 12th. Truist Financial dropped their target price on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Citigroup decreased their price target on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Robert W. Baird raised their price objective on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th.

Institutional Trading of Nevro

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Nevro in the 3rd quarter valued at about $63,000. SG Americas Securities LLC raised its holdings in shares of Nevro by 34.6% during the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 4,406 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Nevro in the third quarter valued at approximately $69,000. Quantbot Technologies LP boosted its stake in shares of Nevro by 1,290.4% in the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after acquiring an additional 13,381 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 8,300 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Trading Up 1.6 %

Shares of NYSE NVRO opened at $4.57 on Friday. Nevro has a 52 week low of $3.16 and a 52 week high of $19.47. The business’s 50 day moving average price is $4.12 and its 200 day moving average price is $5.59. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last released 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 net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same period in the prior year, the firm earned ($0.65) EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities analysts predict that Nevro will post -2.43 EPS for the current fiscal year.

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.