Nevro Corp. (NYSE:NVRO) Receives Average Rating of "Reduce" from Analysts

Nevro Corp. (NYSE:NVRO - Get Free Report) has been assigned a consensus rating of "Reduce" from the fourteen research firms that are covering the company, 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 twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.55.

Several equities research analysts have commented on NVRO shares. JPMorgan Chase & Co. lowered Nevro from a "neutral" rating to an "underweight" rating in a research note on Wednesday, August 7th. Citigroup dropped their price target on Nevro from $6.89 to $6.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. JMP Securities lowered Nevro from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 7th. Robert W. Baird dropped their target price on shares of Nevro from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded shares of Nevro from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $13.00 to $5.50 in a research note on Wednesday, August 7th.

Nevro Price Performance

NVRO traded up $0.34 during trading on Tuesday, hitting $5.25. The company's stock had a trading volume of 513,168 shares, compared to its average volume of 548,631. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $195.72 million, a price-to-earnings ratio of -2.46 and a beta of 0.94. The business's fifty day simple moving average is $5.32 and its 200 day simple moving average is $7.98. Nevro has a twelve month low of $4.38 and a twelve month high of $22.64.

Nevro (NYSE:NVRO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.10. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The company had revenue of $104.16 million during the quarter, compared to analyst estimates of $107.11 million. During the same quarter in the previous year, the firm earned ($0.69) EPS. The firm's revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Nevro will post -2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. raised its position in Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider's stock valued at $6,134,000 after purchasing an additional 605,134 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Nevro by 3,446.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider's stock valued at $1,284,000 after buying an additional 148,200 shares during the period. Acadian Asset Management LLC lifted its stake in Nevro by 154.1% during the 2nd quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider's stock worth $2,029,000 after acquiring an additional 146,276 shares in the last quarter. Millennium Management LLC boosted its holdings in Nevro by 21.4% during the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider's stock valued at $8,054,000 after acquiring an additional 168,573 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Nevro by 18.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider's stock valued at $651,000 after acquiring an additional 7,004 shares in the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.