Nevro (NYSE:NVRO) Price Target Raised to $5.85

Nevro (NYSE:NVRO - Free Report) had its price objective upped by Canaccord Genuity Group from $4.00 to $5.85 in a research note published on Friday,Benzinga reports. They currently have a hold rating on the medical equipment provider's stock.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Nevro from a "sell" rating to a "hold" rating in a research report on Tuesday, November 19th. Morgan Stanley lowered shares of Nevro from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Piper Sandler raised shares of Nevro from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $6.00 to $5.85 in a research report on Friday. Royal Bank of Canada reissued a "sector perform" rating and set a $7.00 target price on shares of Nevro in a research report on Tuesday, November 12th. Finally, Truist Financial cut their price objective on shares of Nevro from $7.00 to $4.70 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Nevro currently has a consensus rating of "Hold" and a consensus price target of $6.43.

Nevro Price Performance

Shares of NVRO stock remained flat at $5.72 on Friday. 2,132,055 shares of the company traded hands, compared to its average volume of 1,224,872. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. Nevro has a 1-year low of $3.16 and a 1-year high of $17.75. The firm's fifty day moving average price is $4.32 and its two-hundred day moving average price is $5.12. The firm has a market cap of $214.33 million, a PE ratio of -3.03 and a beta of 0.91.

Nevro (NYSE:NVRO - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.40. The business had revenue of $96.60 million during 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 23.52%. Nevro's quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.65) EPS. Analysts predict that Nevro will post -2.43 EPS for the current fiscal year.

Institutional Trading of Nevro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in Nevro by 12.9% in the fourth quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider's stock valued at $138,000 after acquiring an additional 4,224 shares during the period. SG Americas Securities LLC increased its stake in Nevro by 34.6% in the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider's stock valued at $64,000 after acquiring an additional 4,406 shares during the period. Virtu Financial LLC grew its stake in Nevro by 59.9% during the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider's stock worth $67,000 after buying an additional 6,725 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Nevro by 62.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 20,548 shares of the medical equipment provider's stock worth $76,000 after buying an additional 7,889 shares during the last quarter. Finally, Amundi bought a new stake in Nevro during the fourth quarter worth about $30,000. 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.