Nevro (NYSE:NVRO) Price Target Raised to $6.00

Nevro (NYSE:NVRO) had its price objective lifted by investment analysts at Robert W. Baird from $5.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. Robert W. Baird’s target price indicates a potential upside of 12.57% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Piper Sandler decreased their price objective on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research raised shares of Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Truist Financial cut their target price on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat, Nevro currently has an average rating of “Hold” and a consensus price target of $9.50.

Nevro Price Performance

Nevro stock opened at $5.33 on Tuesday. The stock has a market cap of $198.70 million, a price-to-earnings ratio of -2.50 and a beta of 0.93. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $5.25 and a 200 day simple moving average of $7.53. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64.

Institutional Investors Weigh In On Nevro

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in Nevro by 189.3% in the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock worth $745,000 after purchasing an additional 33,760 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Nevro by 45.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock valued at $444,000 after acquiring an additional 9,586 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings 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 valued at $167,000 after acquiring an additional 1,430 shares in the last quarter. Blair William & Co. IL increased its position in Nevro by 35.8% during the 1st quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock valued at $753,000 after purchasing an additional 13,750 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Nevro by 48.2% in the 1st quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider’s stock worth $1,369,000 after purchasing an additional 30,863 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

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.