Piper Sandler Lowers Nevro (NYSE:NVRO) Price Target to $64.00

Nevro (NYSE:NVROGet Rating) had its target price cut by research analysts at Piper Sandler from $65.00 to $64.00 in a research report issued on Thursday, The Fly reports. Piper Sandler’s price objective points to a potential upside of 1.80% from the company’s previous close.

Several other analysts have also commented on the company. Wolfe Research began coverage on Nevro in a research note on Tuesday, April 5th. They issued an “underperform” rating and a $64.00 price target on the stock. Canaccord Genuity Group dropped their price objective on Nevro from $97.00 to $72.00 and set a “hold” rating for the company in a report on Friday, February 25th. Canaccord Genuity Group decreased their target price on Nevro from $118.00 to $97.00 and set a “hold” rating for the company in a research note on Wednesday, January 12th. StockNews.com initiated coverage on Nevro in a research report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Morgan Stanley reduced their price target on Nevro from $100.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, February 25th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Nevro presently has an average rating of “Hold” and a consensus target price of $103.77.

Shares of NYSE NVRO opened at $62.87 on Thursday. Nevro has a one year low of $59.35 and a one year high of $182.45. The firm has a market capitalization of $2.21 billion, a PE ratio of -16.68 and a beta of 1.07. The company has a current ratio of 6.46, a quick ratio of 5.32 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $69.79 and a two-hundred day moving average price of $80.49.

Nevro (NYSE:NVROGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The medical equipment provider reported ($0.98) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.11) by $0.13. Nevro had a negative return on equity of 33.06% and a negative net margin of 33.95%. The company had revenue of $87.40 million during the quarter, compared to the consensus estimate of $86.19 million. During the same period last year, the business earned ($0.85) EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Nevro will post -2.92 EPS for the current year.

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

Several large investors have recently made changes to their positions in NVRO. Artisan Partners Limited Partnership bought a new position in shares of Nevro during the third quarter valued at about $43,419,000. Norges Bank bought a new stake in shares of Nevro in the fourth quarter worth about $28,917,000. Capital Research Global Investors boosted its position in Nevro by 28.4% during 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 acquiring an additional 302,849 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in Nevro during the 3rd quarter valued at approximately $29,826,000. Finally, Wellington Management Group LLP boosted its position in Nevro by 47.1% during the 3rd quarter. Wellington Management Group LLP now owns 666,273 shares of the medical equipment provider’s stock valued at $77,542,000 after acquiring an additional 213,187 shares in the last quarter.

Nevro Company Profile (Get Rating)

Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain, as well as Senza II and Senza Omnia systems.

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