Analysts Set Nevro Corp. (NYSE:NVRO) PT at $6.43

Nevro Corp. (NYSE:NVRO - Get Free Report) has received an average rating of "Reduce" from the thirteen research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $6.43.

Several research analysts recently commented on the stock. Citigroup reduced their price target on shares of Nevro from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group raised shares of Nevro from an "underperform" rating to a "hold" rating and raised their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. StockNews.com started coverage on Nevro in a report on Sunday. They issued a "hold" rating for the company. Wells Fargo & Company dropped their price objective 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. Finally, Piper Sandler raised Nevro from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $6.00 to $5.85 in a research report on Friday, February 7th.

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Nevro Trading Up 0.1 %

Shares of NYSE:NVRO traded up $0.01 during trading hours on Friday, hitting $5.85. 640,909 shares of the company's stock traded hands, compared to its average volume of 736,277. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The business has a fifty day moving average price of $5.59 and a 200-day moving average price of $4.97. Nevro has a 1 year low of $3.17 and a 1 year high of $14.43. The firm has a market capitalization of $224.28 million, a P/E ratio of -3.09 and a beta of 0.94.

Nevro (NYSE:NVRO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company had revenue of $105.55 million during the quarter, compared to analysts' expectations of $102.61 million. Equities analysts expect that Nevro will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVRO. Western Standard LLC bought a new stake in shares of Nevro in the 3rd quarter valued at about $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Nevro by 130.7% during the third 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 acquiring an additional 566,462 shares during the last quarter. Engaged Capital LLC lifted its position in Nevro by 29.5% during the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider's stock valued at $13,656,000 after acquiring an additional 557,000 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in Nevro in the fourth quarter valued at approximately $1,976,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Nevro by 20.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider's stock worth $6,709,000 after purchasing an additional 306,943 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.