Nevro Corp. (NYSE:NVRO) Receives Average Rating of “Hold” from Analysts

Shares of Nevro Corp. (NYSE:NVRO) have received an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $21.23.

A number of analysts recently weighed in on NVRO shares. Mizuho decreased their target price on shares of Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Robert W. Baird dropped their price objective on Nevro from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada decreased their target price on Nevro from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Monday, April 15th. Oppenheimer downgraded Nevro from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of Nevro from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th.

Nevro Trading Down 1.2 %

NYSE:NVRO opened at $11.15 on Tuesday. The company has a market cap of $408.98 million, a P/E ratio of -4.34 and a beta of 0.96. Nevro has a 1 year low of $10.27 and a 1 year high of $28.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94. The stock’s fifty day moving average price is $13.28 and its two-hundred day moving average price is $16.30.

Nevro (NYSE:NVRO) last issued its earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.35. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The business had revenue of $116.18 million during the quarter, compared to the consensus estimate of $115.93 million. As a group, analysts expect that Nevro will post -2.54 EPS for the current year.

Institutional Trading of Nevro

Several institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its holdings in Nevro by 380.1% during the 4th quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock valued at $9,278,000 after acquiring an additional 341,343 shares during the period. Palo Alto Investors LP boosted its stake in shares of Nevro by 107.7% during the third quarter. Palo Alto Investors LP now owns 386,832 shares of the medical equipment provider’s stock valued at $7,435,000 after purchasing an additional 200,573 shares during the period. Swiss National Bank grew its holdings in shares of Nevro by 1.3% in the third quarter. Swiss National Bank now owns 78,800 shares of the medical equipment provider’s stock worth $1,515,000 after purchasing an additional 1,000 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Nevro by 301.4% in the third quarter. Walleye Capital LLC now owns 118,764 shares of the medical equipment provider’s stock worth $2,283,000 after buying an additional 89,179 shares during the period. Finally, UBS Group AG raised its holdings in Nevro by 19,354.5% during the 3rd quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider’s stock valued at $17,361,000 after buying an additional 898,629 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other 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.