Nevro Corp. (NYSE:NVRO) Given Consensus Recommendation of “Hold” by Brokerages

Nevro Corp. (NYSE:NVROGet Rating) has received an average rating of “Hold” from the eighteen ratings firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $103.85.

A number of brokerages have recently commented on NVRO. Bank of America initiated coverage on Nevro in a research report on Wednesday, March 2nd. They set an “underperform” rating for the company. Wells Fargo & Company decreased their target price on shares of Nevro from $116.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 24th. Piper Sandler cut their price target on shares of Nevro from $92.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, February 24th. Canaccord Genuity Group dropped their price target on Nevro from $118.00 to $97.00 and set a “hold” rating on the stock in a research report on Wednesday, January 12th. Finally, SVB Leerink lowered their target price on Nevro from $105.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, February 24th.

Shares of NVRO opened at $73.69 on Monday. The company has a current ratio of 6.46, a quick ratio of 5.32 and a debt-to-equity ratio of 0.50. Nevro has a 1 year low of $59.79 and a 1 year high of $182.45. The company’s fifty day moving average price is $70.00. The firm has a market capitalization of $2.59 billion, a P/E ratio of -19.55 and a beta of 1.03.

Nevro (NYSE:NVROGet Rating) last announced its quarterly earnings results on Tuesday, February 22nd. The medical equipment provider reported ($0.86) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.86). The company had revenue of $102.80 million during the quarter, compared to analyst estimates of $100.70 million. Nevro had a negative return on equity of 33.06% and a negative net margin of 33.95%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) EPS. On average, equities analysts expect that Nevro will post -2.92 EPS for the current fiscal year.

In related news, CEO D Keith Grossman bought 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The shares were acquired at an average price of $63.59 per share, for a total transaction of $203,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kashif Rashid acquired 1,500 shares of the company’s stock in a transaction dated Friday, March 11th. The shares were bought at an average price of $64.04 per share, for a total transaction of $96,060.00. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in shares of Nevro by 476.4% during the 4th quarter. Parallel Advisors LLC now owns 317 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Nevro in the 4th quarter valued at about $2,271,000. Janus Henderson Group PLC acquired a new stake in Nevro during the third quarter worth approximately $387,000. ArrowMark Colorado Holdings LLC grew its position in shares of Nevro by 14.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 434,359 shares of the medical equipment provider’s stock valued at $50,551,000 after purchasing an additional 54,302 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Nevro by 28.4% in the 3rd quarter. Capital Research Global Investors now owns 1,369,034 shares of the medical equipment provider’s stock valued at $159,328,000 after buying an additional 302,849 shares in the last quarter.

About Nevro (Get Rating)

Nevro Corp. engages in the provision of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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Analyst Recommendations for Nevro (NYSE:NVRO)

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