Nevro Corp. (NYSE:NVRO) Receives $9.10 Consensus Target Price from Brokerages

Shares of Nevro Corp. (NYSE:NVRO - Get Free Report) have received a consensus rating of "Reduce" from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.10.

NVRO has been the topic of several analyst reports. Wells Fargo & Company lowered Nevro from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Robert W. Baird increased their price objective on shares of Nevro from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Canaccord Genuity Group dropped their target price on shares of Nevro from $8.00 to $7.00 and set a "hold" rating for the company in a research report on Tuesday, November 12th. JMP Securities reiterated a "market perform" rating on shares of Nevro in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $7.00 price objective on shares of Nevro in a research note on Tuesday, November 12th.

Nevro Stock Performance

NYSE:NVRO traded up $0.16 during mid-day trading on Friday, reaching $4.52. 545,050 shares of the company's stock were exchanged, compared to its average volume of 784,755. 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 has a market capitalization of $169.36 million, a PE ratio of -2.40 and a beta of 0.93. Nevro has a one year low of $3.95 and a one year high of $22.64. The business's fifty day simple moving average is $5.10 and its two-hundred day simple moving average is $7.12.

Nevro (NYSE:NVRO - Get Free Report) last released its quarterly 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. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The company had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same period in the previous year, the business earned ($0.65) earnings per share. The firm's quarterly revenue was down 7.0% on a year-over-year basis. Analysts anticipate that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider's stock worth $58,000 after buying an additional 6,565 shares during the period. Virtu Financial LLC acquired a new stake in shares of Nevro during the 3rd quarter worth approximately $63,000. Intech Investment Management LLC acquired a new stake in Nevro in the third quarter worth $69,000. SG Americas Securities LLC bought a new stake in Nevro in the third quarter valued at $71,000. Finally, Quantbot Technologies LP raised its holdings in shares of Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider's stock valued at $81,000 after purchasing an additional 13,381 shares during the period. Institutional investors and hedge funds 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.