Piper Sandler Has Lowered Expectations for Nevro (NYSE:NVRO) Stock Price

Nevro (NYSE:NVRO) had its target price decreased by analysts at Piper Sandler from $7.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the medical equipment provider’s stock. Piper Sandler’s price objective points to a potential upside of 34.83% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. JMP Securities lowered shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. downgraded shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Truist Financial reduced their price target on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.10.

Nevro Trading Down 12.1 %

NVRO stock opened at $4.45 on Tuesday. Nevro has a 12 month low of $4.38 and a 12 month high of $22.64. The firm’s 50-day moving average is $5.23 and its 200 day moving average is $7.44. The company has a market capitalization of $165.91 million, a PE ratio of -2.35 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53.

Nevro (NYSE:NVRO) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. The business had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.35%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company posted ($0.65) earnings per share. On average, research analysts anticipate that Nevro will post -2.6 EPS for the current year.

Institutional Trading of Nevro

Several hedge funds and other institutional investors have recently made changes to their positions in NVRO. BNP Paribas Financial Markets grew its stake in Nevro by 171.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 135,145 shares of the medical equipment provider’s stock worth $755,000 after buying an additional 85,324 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Nevro by 1,290.4% during 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. Charles Schwab Investment Management Inc. grew its stake in shares of Nevro by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock worth $1,698,000 after acquiring an additional 11,369 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Nevro during the third quarter valued at about $69,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Nevro by 27.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock valued at $5,195,000 after purchasing an additional 200,885 shares during the last quarter. Hedge funds and other 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.