Nevro Corp. (NYSE:NVRO) Receives Average Rating of “Reduce” from Analysts

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

A number of equities analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Piper Sandler lowered their price target on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Truist Financial lowered their target price on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th.

Nevro Trading Up 5.3 %

Nevro stock opened at $3.97 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The firm’s 50-day moving average is $4.64 and its 200-day moving average is $6.23. Nevro has a 1 year low of $3.52 and a 1 year high of $22.52. The company has a market cap of $148.76 million, a P/E ratio of -2.10 and a beta of 0.84.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share 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 firm had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same period last year, the firm posted ($0.65) EPS. Nevro’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts expect that Nevro will post -2.43 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

A number of hedge funds have recently modified their holdings of NVRO. ArrowMark Colorado Holdings LLC lifted its stake in Nevro by 2.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock valued at $24,547,000 after buying an additional 102,150 shares in the last quarter. Armistice Capital LLC boosted its stake in Nevro by 1.3% in the 2nd quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock worth $30,918,000 after purchasing an additional 48,000 shares during the period. Engaged Capital LLC grew its position in Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after purchasing an additional 557,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Nevro by 130.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after purchasing an additional 566,462 shares during the period. Finally, Western Standard LLC purchased a new stake in shares of Nevro in the third quarter valued at $5,473,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.