Nevro Corp. (NYSE:NVRO – Get Rating) has been given a consensus recommendation of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $71.10.
Several research analysts recently weighed in on NVRO shares. JMP Securities reduced their price target on Nevro from $125.00 to $95.00 and set a “market outperform” rating for the company in a research report on Thursday, May 26th. Morgan Stanley reduced their target price on Nevro from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 4th. Truist Financial cut their price objective on Nevro to $45.00 in a report on Friday, July 22nd. Wells Fargo & Company cut their price objective on Nevro from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, August 4th. Finally, StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a report on Thursday, July 21st.
Institutional Trading of Nevro
Several hedge funds and other institutional investors have recently bought and sold shares of NVRO. BlackRock Inc. lifted its position in Nevro by 13.7% in the first quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock worth $341,322,000 after purchasing an additional 568,749 shares during the period. Vanguard Group Inc. boosted its holdings in Nevro by 2.1% in the first quarter. Vanguard Group Inc. now owns 3,252,411 shares of the medical equipment provider’s stock worth $235,246,000 after purchasing an additional 67,233 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Nevro by 19.1% in the first quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider’s stock worth $129,989,000 after purchasing an additional 287,936 shares in the last quarter. Capital Research Global Investors boosted its holdings in Nevro by 15.6% during the fourth quarter. Capital Research Global Investors now owns 1,582,704 shares of the medical equipment provider’s stock valued at $128,310,000 after acquiring an additional 213,670 shares during the period. Finally, Invesco Ltd. boosted its holdings in Nevro by 0.6% during the first quarter. Invesco Ltd. now owns 1,040,973 shares of the medical equipment provider’s stock valued at $75,293,000 after acquiring an additional 6,323 shares during the period. 96.05% of the stock is owned by institutional investors.
Nevro Stock Performance
Nevro (NYSE:NVRO – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The medical equipment provider reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.10. Nevro had a negative return on equity of 43.73% and a negative net margin of 35.96%. The business had revenue of $104.21 million for the quarter, compared to the consensus estimate of $104.66 million. On average, sell-side analysts anticipate that Nevro will post -2.9 earnings per share for the current year.
Nevro Company Profile
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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