Nevro Corp. (NYSE:NVRO) Receives $10.55 Consensus Price Target from Brokerages

Nevro Corp. (NYSE:NVRO - Get Free Report) has been assigned a consensus rating of "Reduce" from the fourteen analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $10.55.

A number of research firms have issued reports on NVRO. Morgan Stanley decreased their target price on Nevro from $14.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, July 15th. Robert W. Baird reduced their price target on Nevro from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Piper Sandler reduced their price target on Nevro from $12.00 to $7.00 and set an "underweight" rating for the company in a research report on Wednesday, August 7th. Wolfe Research upgraded Nevro from an "underperform" rating to a "peer perform" rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut Nevro from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th.

Institutional Investors Weigh In On Nevro

Several hedge funds have recently added to or reduced their stakes in NVRO. Armistice Capital LLC grew its holdings in shares of Nevro by 1.3% during the 2nd quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider's stock worth $30,918,000 after acquiring an additional 48,000 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Nevro by 69.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider's stock worth $22,554,000 after acquiring an additional 431,136 shares during the period. Millennium Management LLC grew its holdings in shares of Nevro by 21.4% during the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider's stock worth $8,054,000 after acquiring an additional 168,573 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Nevro by 490.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider's stock worth $6,134,000 after acquiring an additional 605,134 shares during the period. Finally, Norges Bank purchased a new position in shares of Nevro during the 4th quarter worth approximately $8,498,000. Institutional investors own 95.52% of the company's stock.

Nevro Stock Performance

Nevro stock traded up $0.02 during trading on Friday, hitting $4.97. The stock had a trading volume of 271,997 shares, compared to its average volume of 571,577. The stock's 50 day moving average is $6.12 and its two-hundred day moving average is $9.08. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64. The stock has a market cap of $182.54 million, a price-to-earnings ratio of -2.16 and a beta of 0.94. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66.

Nevro (NYSE:NVRO - Get Free Report) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $0.10. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The business had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. During the same period last year, the business posted ($0.69) earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts predict that Nevro will post -2.6 EPS for the current year.

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.