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

Shares of Nevro Corp. (NYSE:NVRO) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $21.54.

NVRO has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Nevro from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “hold” rating and issued a $23.00 price target on shares of Nevro in a report on Thursday, December 21st. Robert W. Baird decreased their price target on shares of Nevro from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Wells Fargo & Company decreased their price target on shares of Nevro from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday. Finally, StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Friday, March 1st.

Hedge Funds Weigh In On Nevro

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in Nevro by 174.3% during the 2nd quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 643 shares in the last quarter. UBS Group AG lifted its position in Nevro by 206.3% during the 4th quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock worth $48,000 after buying an additional 821 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Nevro by 26.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 668 shares in the last quarter. Assetmark Inc. lifted its position in Nevro by 30.4% during the 4th quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock worth $67,000 after buying an additional 730 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in Nevro during the 3rd quarter worth about $132,000. 95.52% of the stock is owned by institutional investors and hedge funds.

Nevro Stock Performance

Shares of Nevro stock opened at $13.12 on Friday. The firm has a fifty day moving average of $14.96 and a two-hundred day moving average of $17.06. The stock has a market capitalization of $477.54 million, a price-to-earnings ratio of -5.11 and a beta of 0.89. Nevro has a 52 week low of $12.34 and a 52 week high of $39.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37.

Nevro (NYSE:NVRO) last issued its earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.35. The company had revenue of $116.18 million during the quarter, compared to analysts’ expectations of $115.93 million. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. As a group, equities research analysts predict that Nevro will post -2.53 EPS for the current year.

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.