Nevro (NYSE:NVRO) PT Lowered to $37.00

Nevro (NYSE:NVROGet Rating) had its target price lowered by equities research analysts at Wells Fargo & Company from $43.00 to $37.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “equal weight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 1.65% from the stock’s previous close.

A number of other brokerages have also issued reports on NVRO. William Blair reiterated a “market perform” rating on shares of Nevro in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. reduced their price objective on Nevro from $50.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. StockNews.com downgraded Nevro from a “buy” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity Group raised Nevro from a “hold” rating to a “buy” rating and increased their price objective for the company from $41.00 to $67.00 in a research note on Tuesday, December 20th. Finally, Truist Financial cut their target price on Nevro from $45.00 to $41.00 and set a “hold” rating for the company in a research note on Tuesday, December 20th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.00.

Nevro Trading Up 1.9 %

Nevro stock opened at $36.40 on Wednesday. The company has a current ratio of 7.05, a quick ratio of 5.82 and a debt-to-equity ratio of 0.57. Nevro has a 12 month low of $34.70 and a 12 month high of $92.41. The stock’s 50 day simple moving average is $41.57 and its two-hundred day simple moving average is $43.70. The firm has a market cap of $1.29 billion, a PE ratio of -110.30 and a beta of 0.86.

Nevro (NYSE:NVROGet Rating) last announced its earnings results on Wednesday, November 2nd. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09. Nevro had a negative return on equity of 40.89% and a negative net margin of 2.01%. The firm had revenue of $100.47 million for the quarter, compared to analyst estimates of $99.08 million. Analysts anticipate that Nevro will post -2.69 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. boosted its stake in shares of Nevro by 0.3% in the 2nd quarter. Brown Advisory Inc. now owns 613,841 shares of the medical equipment provider’s stock valued at $27,012,000 after buying an additional 2,096 shares during the period. EFG Asset Management North America Corp. lifted its stake in Nevro by 100.8% in the third quarter. EFG Asset Management North America Corp. now owns 33,648 shares of the medical equipment provider’s stock worth $1,571,000 after acquiring an additional 16,888 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Nevro by 6.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 174,683 shares of the medical equipment provider’s stock worth $7,656,000 after acquiring an additional 10,420 shares in the last quarter. Strs Ohio increased its position in shares of Nevro by 6.3% in the 2nd quarter. Strs Ohio now owns 5,100 shares of the medical equipment provider’s stock valued at $223,000 after purchasing an additional 300 shares during the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in shares of Nevro by 56.6% in the 2nd quarter. Integral Health Asset Management LLC now owns 78,277 shares of the medical equipment provider’s stock valued at $3,431,000 after purchasing an additional 28,277 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

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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