Nevro Corp. (NYSE:NVRO) Receives $6.30 Consensus Target Price from Analysts

Nevro Corp. (NYSE:NVRO) has received an average rating of “Reduce” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.30.

NVRO has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Wells Fargo & Company lowered their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Robert W. Baird boosted their price target on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $7.00 target price on shares of Nevro in a research note on Tuesday, November 12th.

Nevro Trading Up 6.0 %

Shares of NYSE NVRO opened at $4.50 on Friday. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $4.13 and its 200 day simple moving average is $5.64. Nevro has a fifty-two week low of $3.16 and a fifty-two week high of $19.47.

Nevro (NYSE:NVRO) last posted 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. The company had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.65) earnings per share. As a group, research analysts forecast that Nevro will post -2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

Large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in Nevro in the 3rd quarter worth approximately $63,000. M&T Bank Corp boosted its holdings in shares of Nevro by 54.0% in the third quarter. M&T Bank Corp now owns 78,954 shares of the medical equipment provider’s stock worth $442,000 after acquiring an additional 27,681 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Nevro by 2,310.0% in the third quarter. Public Employees Retirement System of Ohio now owns 72,300 shares of the medical equipment provider’s stock valued at $404,000 after purchasing an additional 69,300 shares in the last quarter. Western Standard LLC bought a new stake in shares of Nevro during the 3rd quarter valued at $5,473,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Nevro by 50.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock valued at $4,096,000 after purchasing an additional 246,979 shares during the period. 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.