Nevro (NYSE:NVRO) Price Target Raised to $6.00

Nevro (NYSE:NVRO - Get Free Report) had its price target boosted by analysts at Robert W. Baird from $5.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the medical equipment provider's stock. Robert W. Baird's price target suggests a potential upside of 18.34% from the company's current price.

Several other research analysts have also recently commented on the company. JMP Securities cut Nevro from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 7th. Morgan Stanley cut their price objective on Nevro from $14.00 to $9.00 and set an "equal weight" rating for the company in a report on Monday, July 15th. Wells Fargo & Company cut Nevro from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut Nevro from a "neutral" rating to an "underweight" rating in a report on Wednesday, August 7th. Finally, Truist Financial cut their price target on Nevro from $10.00 to $5.50 and set a "hold" rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat.com, Nevro presently has a consensus rating of "Hold" and a consensus target price of $9.10.

Nevro Stock Performance

Shares of Nevro stock traded down $0.25 during midday trading on Tuesday, hitting $5.07. The company had a trading volume of 1,812,305 shares, compared to its average volume of 559,029. The business's 50 day simple moving average is $5.24 and its two-hundred day simple moving average is $7.48. The stock has a market cap of $189.01 million, a PE ratio of -2.55 and a beta of 0.93. 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 1-year low of $4.38 and a 1-year high of $22.64.

Hedge Funds Weigh In On Nevro

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake 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 last quarter. Millennium Management LLC raised its position 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 purchasing an additional 168,573 shares in the last quarter. Point72 Asset Management L.P. raised its position in 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 valued at $1,284,000 after purchasing an additional 148,200 shares in the last quarter. Acadian Asset Management LLC raised its position 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 worth $2,029,000 after acquiring an additional 146,276 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of Nevro by 57.3% in the 2nd quarter. Algert Global LLC now owns 216,572 shares of the medical equipment provider's stock worth $1,824,000 after acquiring an additional 78,895 shares in the last quarter. Hedge funds and other institutional investors 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.