Nevro Corp. (NYSE:NVRO) Receives Average Rating of “Hold” from Analysts

Nevro Corp. (NYSE:NVRO – Get Rating) has earned a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $54.67.

NVRO has been the subject of a number of research reports. Piper Sandler downgraded Nevro from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $42.00 to $38.00 in a research report on Friday, January 6th. StockNews.com downgraded Nevro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. William Blair reiterated a “market perform” rating on shares of Nevro in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. cut their price objective on Nevro from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Finally, Canaccord Genuity Group raised Nevro from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $67.00 in a research note on Tuesday, December 20th.

Institutional Investors Weigh In On Nevro

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Nevro by 0.6% during the third quarter. BlackRock Inc. now owns 4,871,522 shares of the medical equipment provider’s stock worth $227,012,000 after buying an additional 29,906 shares in the last quarter. Vanguard Group Inc. lifted its stake in Nevro by 1.7% during the third quarter. Vanguard Group Inc. now owns 3,621,085 shares of the medical equipment provider’s stock worth $168,743,000 after purchasing an additional 60,289 shares during the last quarter. Wellington Management Group LLP lifted its stake in Nevro by 19.1% during 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 during the last quarter. Federated Hermes Inc. lifted its stake in Nevro by 294.6% during the second quarter. Federated Hermes Inc. now owns 1,081,801 shares of the medical equipment provider’s stock worth $47,415,000 after purchasing an additional 807,678 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Nevro by 0.6% during the first quarter. Invesco Ltd. now owns 1,040,973 shares of the medical equipment provider’s stock worth $75,293,000 after purchasing an additional 6,323 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Nevro Stock Performance

Shares of NYSE NVRO opened at $37.92 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.82 and a current ratio of 7.05. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -114.91 and a beta of 0.86. The business’s 50-day simple moving average is $41.37 and its 200-day simple moving average is $43.48. Nevro has a 52 week low of $34.70 and a 52 week high of $90.99.

Nevro (NYSE:NVRO – Get Rating) last released 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. The firm had revenue of $100.47 million for the quarter, compared to analyst estimates of $99.08 million. Nevro had a negative return on equity of 40.89% and a negative net margin of 2.01%. As a group, equities research analysts expect that Nevro will post -2.71 earnings per share for the current fiscal year.

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.