Nevro Corp. (NYSE:NVRO) Receives $10.55 Average Price Target from Brokerages

Shares of Nevro Corp. (NYSE:NVRO) have received a consensus rating of “Reduce” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.80.

NVRO has been the topic of several research analyst reports. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada dropped their price objective on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Citigroup dropped their price objective on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $13.00 to $5.50 in a research note on Wednesday, August 7th. Finally, JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 7th.

Nevro Price Performance

NVRO opened at $5.35 on Tuesday. Nevro has a twelve month low of $4.38 and a twelve month high of $22.64. The company has a fifty day moving average of $5.30 and a 200-day moving average of $7.72. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66.

Nevro (NYSE:NVRO) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.10. The business had revenue of $104.16 million for the quarter, compared to analyst estimates of $107.11 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. Nevro’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.69) earnings per share. Analysts predict that Nevro will post -2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its stake in shares of Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after purchasing an additional 605,134 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Nevro by 3,446.5% in the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after purchasing an additional 148,200 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Nevro by 154.1% in the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after purchasing an additional 146,276 shares in the last quarter. Millennium Management LLC boosted its position in shares of Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after acquiring an additional 168,573 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Nevro by 18.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after acquiring an additional 7,004 shares in the last quarter. Hedge funds and other 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.