Nevro Corp. (NYSE:NVRO) Given Consensus Rating of "Reduce" by Brokerages

Shares of Nevro Corp. (NYSE:NVRO - Get Free Report) have been assigned an average recommendation of "Reduce" from the thirteen research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.30.

Several analysts recently issued reports on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $7.00 price target on shares of Nevro in a research report on Tuesday, November 12th. JMP Securities reiterated a "market perform" rating on shares of Nevro in a report on Tuesday, November 12th. Robert W. Baird upped their target price on shares of Nevro from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Piper Sandler dropped their price target on shares of Nevro from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Tuesday, November 12th. Finally, Truist Financial decreased their price objective on Nevro from $7.00 to $4.70 and set a "hold" rating for the company in a report on Wednesday, December 18th.

Nevro Stock Down 6.0 %

Shares of Nevro stock traded down $0.21 during trading on Friday, reaching $3.28. 684,767 shares of the company traded hands, compared to its average volume of 508,294. 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 firm has a market capitalization of $122.91 million, a PE ratio of -1.74 and a beta of 0.86. The company has a 50 day moving average price of $4.24 and a 200-day moving average price of $5.72. Nevro has a 1-year low of $3.16 and a 1-year high of $20.41.

Nevro (NYSE:NVRO - Get Free Report) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same period last year, the business posted ($0.65) EPS. The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Trading of Nevro

Several hedge funds have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC increased its stake in shares of Nevro by 2.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider's stock worth $24,547,000 after purchasing an additional 102,150 shares during the last quarter. Armistice Capital LLC increased its position in Nevro by 1.3% in the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider's stock worth $30,918,000 after buying an additional 48,000 shares during the last quarter. Engaged Capital LLC increased its position in Nevro by 29.5% in the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider's stock worth $13,656,000 after buying an additional 557,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Nevro by 130.7% in 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 buying an additional 566,462 shares during the period. Finally, Western Standard LLC purchased a new position in shares of Nevro during the 3rd quarter valued at $5,473,000. 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.