Brokerages Set Nevro Corp. (NYSE:NVRO) Price Target at $6.30

Nevro Corp. (NYSE:NVRO) has been given an average recommendation of “Reduce” by the fourteen research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.43.

A number of research analysts have weighed in on NVRO shares. JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and upped their target price for the stock from $4.50 to $5.85 in a research note on Monday. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $6.00 to $5.85 in a research note on Friday, February 7th. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley downgraded Nevro from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $4.00 in a report on Monday, December 2nd.

Nevro Price Performance

NVRO stock opened at $5.72 on Thursday. Nevro has a 1-year low of $3.16 and a 1-year high of $17.63. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $4.35 and its two-hundred day moving average price is $5.09.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating 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 business had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. During the same quarter in the previous year, the business posted ($0.65) EPS. Nevro’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, research analysts expect that Nevro will post -2.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVRO. Amundi bought a new stake in shares of Nevro in the 4th quarter valued at about $30,000. Headlands Technologies LLC acquired a new position in Nevro during the fourth quarter worth approximately $45,000. Ieq Capital LLC bought a new stake in Nevro in the fourth quarter valued at approximately $46,000. Virtu Financial LLC acquired a new stake in shares of Nevro in the third quarter valued at approximately $63,000. Finally, SG Americas Securities LLC boosted its stake in shares of Nevro by 34.6% during the 4th quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 4,406 shares during the period. 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.