Nevro's (NVRO) "Sector Perform" Rating Reiterated at Royal Bank of Canada

Nevro (NYSE:NVRO - Get Free Report)'s stock had its "sector perform" rating reissued by equities research analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They currently have a $7.00 target price on the medical equipment provider's stock. Royal Bank of Canada's target price indicates a potential upside of 38.34% from the company's current price.

Several other brokerages have also recently commented on NVRO. JMP Securities cut shares of Nevro from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Nevro from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler decreased their price target on shares of Nevro from $7.00 to $6.00 and set an "underweight" rating for the company in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Nevro from a "neutral" rating to an "underweight" rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded Nevro from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $13.00 to $5.50 in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $9.10.

Nevro Stock Down 4.9 %

Shares of NVRO stock traded down $0.26 during trading hours on Tuesday, reaching $5.06. The company had a trading volume of 2,054,372 shares, compared to its average volume of 560,150. The company has a market capitalization of $188.64 million, a P/E ratio of -2.55 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. Nevro has a twelve month low of $4.38 and a twelve month high of $22.64. The stock's fifty day simple moving average is $5.24 and its 200 day simple moving average is $7.48.

Hedge Funds Weigh In On Nevro

Several institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew 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 acquiring an additional 6,565 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Nevro during the third quarter worth $69,000. SG Americas Securities LLC acquired a new position in shares of Nevro during the third quarter valued at $71,000. Canada Pension Plan Investment Board boosted its holdings in Nevro by 345.8% in the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider's stock valued at $90,000 after acquiring an additional 8,300 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider's stock worth $167,000 after purchasing an additional 1,430 shares during the period. 95.52% of the stock is owned by institutional investors.

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.