Piper Sandler Cuts Nevro (NYSE:NVRO) Price Target to $6.00

Nevro (NYSE:NVRO - Free Report) had its target price reduced by Piper Sandler from $7.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. Piper Sandler currently has an underweight rating on the medical equipment provider's stock.

Several other research analysts also recently weighed in on NVRO. JPMorgan Chase & Co. downgraded shares of Nevro from a "neutral" rating to an "underweight" rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered Nevro from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $13.00 to $5.50 in a research report on Wednesday, August 7th. StockNews.com raised Nevro from a "sell" rating to a "hold" rating in a report on Saturday. Morgan Stanley cut their target price on Nevro from $14.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, July 15th. Finally, Wolfe Research upgraded shares of Nevro from an "underperform" rating to a "peer perform" rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat.com, Nevro presently has an average rating of "Hold" and an average price target of $9.10.

Nevro Trading Down 4.9 %

NYSE NVRO traded down $0.26 during mid-day trading on Tuesday, hitting $5.06. The company's stock had a trading volume of 2,054,767 shares, compared to its average volume of 560,136. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. Nevro has a 52-week low of $4.38 and a 52-week high of $22.64. The stock's fifty day simple moving average is $5.24 and its two-hundred day simple moving average is $7.48. The firm has a market capitalization of $188.64 million, a P/E ratio of -2.55 and a beta of 0.93.

Hedge Funds Weigh In On Nevro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC lifted its stake in Nevro by 1.3% during the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider's stock valued at $30,918,000 after buying an additional 48,000 shares in the last quarter. Millennium Management LLC raised 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 buying an additional 168,573 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Nevro by 27.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider's stock worth $5,195,000 after purchasing an additional 200,885 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Nevro by 5.0% during the second quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider's stock worth $3,099,000 after purchasing an additional 17,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Nevro by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider's stock valued at $1,698,000 after acquiring an additional 11,369 shares during the last quarter. 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.