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

Shares of Nevro Corp. (NYSE:NVRO – Get Rating) have been given an average rating of “Hold” by the eighteen brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $100.54.

A number of brokerages recently weighed in on NVRO. Citigroup upgraded shares of Nevro from a “neutral” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Thursday, May 5th. Piper Sandler cut their price target on shares of Nevro from $65.00 to $64.00 in a research report on Thursday, May 5th. Bank of America began coverage on shares of Nevro in a report on Wednesday, March 2nd. They set an “underperform” rating on the stock. StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, SVB Leerink dropped their target price on shares of Nevro from $105.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, February 24th.

Shares of NYSE:NVRO opened at $43.46 on Friday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.14 and a beta of 1.07. The firm’s 50 day simple moving average is $66.86 and its 200 day simple moving average is $77.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 6.97 and a quick ratio of 5.32. Nevro has a fifty-two week low of $41.74 and a fifty-two week high of $182.45.

Nevro (NYSE:NVRO – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The medical equipment provider reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.13. The business had revenue of $87.40 million for the quarter, compared to the consensus estimate of $86.19 million. Nevro had a negative net margin of 35.25% and a negative return on equity of 38.02%. Nevro’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company posted ($0.85) EPS. Equities research analysts expect that Nevro will post -2.86 earnings per share for the current year.

In other news, General Counsel Kashif Rashid bought 1,500 shares of the company’s stock in a transaction dated Friday, March 11th. The stock was bought at an average price of $64.04 per share, with a total value of $96,060.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO D Keith Grossman bought 3,200 shares of the company’s 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 disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 6,950 shares of company stock valued at $399,673. Company insiders own 2.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in Nevro by 476.4% in the fourth quarter. Parallel Advisors LLC now owns 317 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 262 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Nevro by 79.5% in the fourth quarter. Quadrant Capital Group LLC now owns 368 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 163 shares in the last quarter. Signaturefd LLC raised its stake in Nevro by 7,028.6% in the fourth quarter. Signaturefd LLC now owns 499 shares of the medical equipment provider’s stock valued at $40,000 after purchasing an additional 492 shares in the last quarter. CWM LLC acquired a new position in Nevro in the fourth quarter valued at about $47,000. Finally, FourThought Financial LLC raised its stake in Nevro by 49.1% in the first quarter. FourThought Financial LLC now owns 683 shares of the medical equipment provider’s stock valued at $49,000 after purchasing an additional 225 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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