JPMorgan Chase & Co. Cuts Nevro (NYSE:NVRO) Price Target to $18.00

Nevro (NYSE:NVRO) had its price target trimmed by JPMorgan Chase & Co. from $23.00 to $18.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical equipment provider’s stock.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada reissued an outperform rating and issued a $33.00 price objective on shares of Nevro in a research note on Thursday, August 17th. Citigroup cut their price objective on Nevro from $24.00 to $21.00 and set a neutral rating on the stock in a research note on Monday, August 21st. Truist Financial cut their price objective on Nevro from $18.50 to $17.00 and set a hold rating on the stock in a research note on Friday. StockNews.com started coverage on Nevro in a research note on Thursday, October 5th. They issued a hold rating on the stock. Finally, Robert W. Baird lowered their target price on Nevro from $26.00 to $23.00 and set a neutral rating on the stock in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $27.50.

Nevro Stock Up 7.3 %

NVRO opened at $16.07 on Thursday. Nevro has a fifty-two week low of $13.98 and a fifty-two week high of $48.10. The business has a 50-day moving average of $18.24 and a 200-day moving average of $22.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 6.55 and a quick ratio of 5.30. The company has a market capitalization of $580.45 million, a PE ratio of -5.62 and a beta of 0.88.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.12. Nevro had a negative return on equity of 33.99% and a negative net margin of 24.22%. The company had revenue of $103.86 million during the quarter, compared to the consensus estimate of $95.87 million. During the same period last year, the business earned ($0.62) EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Nevro will post -2.96 EPS for the current fiscal year.

Institutional Trading of Nevro

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Nevro by 13.7% in the 1st quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock valued at $341,322,000 after purchasing an additional 568,749 shares during the last quarter. Vanguard Group Inc. raised its position in Nevro by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,621,085 shares of the medical equipment provider’s stock valued at $168,743,000 after purchasing an additional 60,289 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in Nevro by 36.5% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,189 shares of the medical equipment provider’s stock valued at $46,193,000 after purchasing an additional 485,433 shares during the last quarter. Wellington Management Group LLP raised its position in Nevro by 19.1% in the 1st quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider’s stock valued at $129,989,000 after purchasing an additional 287,936 shares during the last quarter. Finally, Norges Bank bought a new position in Nevro in the 4th quarter valued at $50,205,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

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 (SCS) system, an evidence-based neuromodulation system for the treatment of chronic pain, as well as Senza II and Senza Omnia SCS systems.