Nevro’s (NVRO) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Nevro (NYSE:NVRO) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $7.00 target price on the medical equipment provider’s stock.

A number of other analysts have also recently commented on the stock. Morgan Stanley dropped their price target on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. JMP Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. Finally, Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. Based on data from MarketBeat, Nevro currently has an average rating of “Hold” and an average target price of $9.10.

Nevro Stock Up 11.1 %

Nevro stock opened at $4.52 on Tuesday. Nevro has a twelve month low of $3.95 and a twelve month high of $22.64. The firm has a 50 day moving average price of $5.18 and a 200-day moving average price of $7.39. The company has a market capitalization of $169.36 million, a P/E ratio of -2.39 and a beta of 0.93. The company has a quick ratio of 3.53, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $96.60 million during 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 company’s revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts predict that Nevro will post -2.46 EPS for the current year.

Hedge Funds Weigh In On Nevro

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