Nevro Corp. (NYSE:NVRO) Receives $8.05 Consensus Target Price from Analysts

Shares of Nevro Corp. (NYSE:NVRO - Get Free Report) have been given an average rating of "Reduce" by the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.97.

A number of research firms have commented on NVRO. StockNews.com upgraded shares of Nevro from a "sell" rating to a "hold" rating in a research report on Tuesday, November 19th. Citigroup cut their price target on shares of Nevro from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. Morgan Stanley lowered shares of Nevro from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Piper Sandler lowered their price objective 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, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th.

Nevro Stock Down 7.7 %

Nevro stock traded down $0.31 during midday trading on Wednesday, hitting $3.74. 455,664 shares of the stock were exchanged, compared to its average volume of 560,677. The company has a 50 day moving average price of $4.72 and a two-hundred day moving average price of $6.39. The firm has a market cap of $140.15 million, a P/E ratio of -1.98 and a beta of 0.84. Nevro has a 1 year low of $3.71 and a 1 year high of $22.52. 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 (NYSE:NVRO - Get Free Report) last posted its quarterly 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 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 analyst estimates of $93.09 million. During the same period in the previous year, the business posted ($0.65) EPS. The company's quarterly revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts predict that Nevro will post -2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

A number of hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. increased its position in shares of Nevro by 3,446.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider's stock worth $1,284,000 after purchasing an additional 148,200 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Nevro by 130.7% during the 3rd 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 acquiring an additional 566,462 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Nevro by 154.1% in the 2nd quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider's stock valued at $2,029,000 after purchasing an additional 146,276 shares during the last quarter. Western Standard LLC bought a new position in shares of Nevro in the 3rd quarter valued at about $5,473,000. Finally, Millennium Management LLC boosted its stake in shares of Nevro by 21.4% in the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider's stock valued at $8,054,000 after purchasing an additional 168,573 shares during 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.