Nevro (NYSE:NVRO) Price Target Cut to $42.00 by Analysts at Piper Sandler

Nevro (NYSE:NVROGet Rating) had its target price lowered by Piper Sandler from $45.00 to $42.00 in a research note issued to investors on Thursday morning, The Fly reports. Piper Sandler currently has a neutral rating on the medical equipment provider’s stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group assumed coverage on Nevro in a research report on Wednesday, October 12th. They issued an underperform rating and a $31.00 target price for the company. Truist Financial lowered their price objective on Nevro to $45.00 in a research report on Friday, July 22nd. Morgan Stanley lowered their price objective on Nevro from $54.00 to $49.00 and set an equal weight rating for the company in a research report on Tuesday, October 11th. Wells Fargo & Company lowered their price objective on Nevro from $90.00 to $86.00 and set an overweight rating for the company in a research report on Thursday, August 4th. Finally, StockNews.com initiated coverage on Nevro in a research report on Wednesday, October 12th. They set a hold rating for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $64.50.

Nevro Price Performance

Nevro stock opened at $40.75 on Thursday. The company has a current ratio of 7.05, a quick ratio of 5.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.44 billion, a PE ratio of -123.48 and a beta of 0.75. Nevro has a 12 month low of $34.70 and a 12 month high of $114.10. The stock has a 50-day moving average price of $43.43 and a two-hundred day moving average price of $46.37.

Institutional Investors Weigh In On Nevro

Hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in Nevro by 138.1% in the second quarter. Assetmark Inc. now owns 569 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 330 shares during the period. FourThought Financial LLC grew 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 acquiring an additional 225 shares during the period. Nisa Investment Advisors LLC grew its stake in Nevro by 27.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the medical equipment provider’s stock valued at $51,000 after acquiring an additional 250 shares during the period. CWM LLC lifted its holdings in shares of Nevro by 29.6% in the first quarter. CWM LLC now owns 757 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 173 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Nevro by 43.5% in the third quarter. Barclays PLC now owns 2,864 shares of the medical equipment provider’s stock valued at $134,000 after purchasing an additional 868 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

About Nevro

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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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