Nevro (NYSE:NVRO) PT Lowered to $16.00 at Citigroup

Nevro (NYSE:NVROFree Report) had its price objective cut by Citigroup from $18.00 to $16.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the medical equipment provider’s stock.

NVRO has been the topic of several other research reports. Robert W. Baird reduced their price target on shares of Nevro from $23.00 to $19.00 and set a neutral rating on the stock in a research report on Thursday, February 22nd. Royal Bank of Canada lowered Nevro from an outperform rating to a sector perform rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Friday, January 12th. Canaccord Genuity Group reissued a hold rating and set a $23.00 price objective on shares of Nevro in a research report on Thursday, December 21st. StockNews.com raised shares of Nevro from a sell rating to a hold rating in a research report on Friday, March 1st. Finally, Truist Financial lifted their price target on shares of Nevro from $22.00 to $23.00 and gave the company a hold rating in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Nevro has a consensus rating of Hold and an average target price of $22.85.

Read Our Latest Analysis on NVRO

Nevro Stock Performance

Shares of Nevro stock opened at $13.05 on Wednesday. The business’s 50 day moving average price is $15.45 and its 200 day moving average price is $17.31. The company has a market cap of $474.84 million, a price-to-earnings ratio of -5.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37. Nevro has a one year low of $12.34 and a one year high of $39.67.

Nevro (NYSE:NVROGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.35. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The business had revenue of $116.18 million for the quarter, compared to analyst estimates of $115.93 million. On average, research analysts predict that Nevro will post -2.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP raised its position in Nevro by 174.3% in the 2nd quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 643 shares in the last quarter. UBS Group AG lifted its stake in Nevro by 206.3% in the fourth quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 821 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Nevro in the first quarter worth approximately $170,000. Tower Research Capital LLC TRC increased its position in shares of Nevro by 170.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,494 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 1,573 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Nevro in the 1st quarter valued at $223,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

About Nevro

(Get Free Report)

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.

Further Reading

Analyst Recommendations for Nevro (NYSE:NVRO)

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