Analysts Set Nevro Corp. (NYSE:NVRO) Price Target at $5.36

Shares of Nevro Corp. (NYSE:NVRO) have earned an average rating of “Reduce” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.36.

A number of analysts have commented on NVRO shares. Canaccord Genuity Group raised their price target on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Piper Sandler raised 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 report on Friday, February 7th. Finally, StockNews.com started coverage on Nevro in a report on Saturday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Nevro

Several large investors have recently added to or reduced their stakes in NVRO. Beryl Capital Management LLC purchased a new position in shares of Nevro during the 1st quarter worth about $21,965,000. Goldman Sachs Group Inc. lifted its holdings in shares of Nevro by 355.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,072,813 shares of the medical equipment provider’s stock worth $12,105,000 after buying an additional 1,617,676 shares during the period. Gabelli Funds LLC bought a new position in Nevro during the 1st quarter worth about $7,726,000. Trium Capital LLP bought a new position in Nevro during the 1st quarter worth about $4,549,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Nevro during the 1st quarter valued at about $4,161,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Stock Performance

Shares of NVRO opened at $5.85 on Friday. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The stock has a market cap of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. The business’s 50 day moving average price is $5.84 and its 200-day moving average price is $5.13. Nevro has a 52 week low of $3.17 and a 52 week high of $11.45.

Nevro (NYSE:NVRO) last released its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. The firm had revenue of $105.55 million for the quarter, compared to analysts’ expectations of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. Equities research analysts anticipate that Nevro will post -2.44 earnings per share for the current fiscal year.

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.