Nevro Corp. (NYSE:NVRO) Given Average Rating of "Reduce" by Analysts

Nevro Corp. (NYSE:NVRO - Get Free Report) has received a consensus recommendation of "Reduce" from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $6.49.

NVRO has been the topic of a number of recent analyst reports. Morgan Stanley cut Nevro from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. JMP Securities reaffirmed a "market perform" rating on shares of Nevro in a report on Tuesday, November 12th. Citigroup dropped their price objective on shares of Nevro from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday, December 11th. Piper Sandler raised shares of Nevro from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $6.00 to $5.85 in a research note on Friday. Finally, Truist Financial lowered their price target on shares of Nevro from $7.00 to $4.70 and set a "hold" rating for the company in a report on Wednesday, December 18th.

Nevro Price Performance

Shares of NYSE:NVRO remained flat at $5.72 during midday trading on Thursday. 3,590,924 shares of the stock traded hands, compared to its average volume of 1,156,006. The stock has a fifty day moving average price of $4.30 and a 200-day moving average price of $5.18. Nevro has a one year low of $3.16 and a one year high of $17.75. 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 company has a market capitalization of $214.33 million, a P/E ratio of -3.03 and a beta of 0.91.

Nevro (NYSE:NVRO - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.54% and a negative return on equity of 23.52%. The business 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 company's revenue was down 7.0% on a year-over-year basis. Research analysts expect 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 company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $5,590,000 after buying an additional 566,462 shares during the last quarter. Western Standard LLC acquired a new stake in Nevro during the third quarter worth approximately $5,473,000. Millennium Management LLC increased its holdings in Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider's stock worth $8,054,000 after purchasing an additional 168,573 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Nevro by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider's stock valued at $1,698,000 after buying an additional 11,369 shares during the period. Finally, Engaged Capital LLC boosted its holdings in shares of Nevro by 29.5% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.