Truist Financial Has Lowered Expectations for Nevro (NYSE:NVRO) Stock Price

Nevro (NYSE:NVRO - Free Report) had its price target lowered by Truist Financial from $7.00 to $4.70 in a report released on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the medical equipment provider's stock.

NVRO has been the subject of a number of other reports. StockNews.com raised shares of Nevro from a "sell" rating to a "hold" rating in a research note on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on Nevro from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Morgan Stanley cut Nevro from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $9.00 to $4.00 in a research note on Monday, December 2nd. JMP Securities reaffirmed a "market perform" rating on shares of Nevro in a research note on Tuesday, November 12th. Finally, Canaccord Genuity Group dropped their price objective on Nevro from $7.00 to $4.00 and set a "hold" rating for the company in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat.com, Nevro presently has a consensus rating of "Hold" and a consensus price target of $7.97.

Nevro Stock Performance

NVRO traded down $0.31 during trading on Wednesday, reaching $3.74. 455,664 shares of the company's stock were exchanged, compared to its average volume of 560,677. The business has a 50 day moving average price of $4.72 and a 200 day moving average price of $6.39. The company has a market capitalization of $140.15 million, a P/E ratio of -1.98 and a beta of 0.84. Nevro has a fifty-two week low of $3.71 and a fifty-two week high of $22.52. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The firm had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. During the same period in the prior year, the company posted ($0.65) earnings per share. The business's revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts predict that Nevro will post -2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVRO. Nisa Investment Advisors LLC increased its position in Nevro by 1,788.8% during the second 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 period. Virtu Financial LLC bought a new position in shares of Nevro during the third quarter worth approximately $63,000. Intech Investment Management LLC acquired a new stake in shares of Nevro in the third quarter valued at approximately $69,000. SG Americas Securities LLC bought a new stake in shares of Nevro in the third quarter valued at approximately $71,000. Finally, Quantbot Technologies LP grew its position in Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider's stock worth $81,000 after buying an additional 13,381 shares in the last quarter. 95.52% of the stock is owned by 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.