Nevro Corp. (NYSE:NVRO) Given Average Rating of “Reduce” by Brokerages

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

A number of research firms recently weighed in on NVRO. Robert W. Baird lifted their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. JMP Securities reiterated a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and increased their target price for the stock from $4.50 to $5.85 in a report on Monday. Finally, Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $6.00 to $5.85 in a research report on Friday, February 7th.

Nevro Price Performance

NVRO opened at $5.72 on Thursday. The business has a 50 day moving average of $4.35 and a 200-day moving average of $5.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. Nevro has a 1-year low of $3.16 and a 1-year high of $17.63.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same period in the prior year, the firm earned ($0.65) EPS. The business’s revenue was down 7.0% on a year-over-year basis. On average, equities analysts expect that Nevro will post -2.43 EPS for the current fiscal year.

Institutional Trading of Nevro

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its position in shares of Nevro by 12.9% in the 4th quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock worth $138,000 after purchasing an additional 4,224 shares during the last quarter. SG Americas Securities LLC lifted its stake in Nevro by 34.6% in the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after buying an additional 4,406 shares during the period. Virtu Financial LLC boosted its holdings in Nevro by 59.9% during the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock worth $67,000 after buying an additional 6,725 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Nevro by 62.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 20,548 shares of the medical equipment provider’s stock worth $76,000 after buying an additional 7,889 shares during the period. Finally, Amundi bought a new stake in shares of Nevro in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.