Nevro (NYSE:NVRO) Given New $16.00 Price Target at Mizuho

Nevro (NYSE:NVRO) had its price target decreased by stock analysts at Mizuho from $20.00 to $16.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the medical equipment provider’s stock. Mizuho’s target price would indicate a potential upside of 20.94% from the stock’s current price.

Several other equities research analysts have also issued reports on NVRO. Truist Financial increased their price objective on shares of Nevro from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Royal Bank of Canada cut Nevro from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $23.00 to $20.00 in a research note on Friday, January 12th. Canaccord Genuity Group lowered shares of Nevro from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Thursday, December 21st. Wells Fargo & Company lowered their price objective on shares of Nevro from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Finally, StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.54.

Nevro Stock Up 0.8 %

Shares of NYSE:NVRO opened at $13.23 on Thursday. The firm’s 50 day moving average price is $14.96 and its 200 day moving average price is $17.06. The company has a quick ratio of 4.94, a current ratio of 6.37 and a debt-to-equity ratio of 0.72. The stock has a market cap of $481.57 million, a price-to-earnings ratio of -5.17 and a beta of 0.89. Nevro has a fifty-two week low of $12.34 and a fifty-two week high of $39.67.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.35. The business had revenue of $116.18 million during the quarter, compared to analysts’ expectations of $115.93 million. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. As a group, equities research analysts predict that Nevro will post -2.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Nevro by 13.7% during the first 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 period. Vanguard Group Inc. increased its holdings in shares of Nevro by 1.7% during the third 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 period. Armistice Capital LLC increased its holdings in shares of Nevro by 46.7% during the third quarter. Armistice Capital LLC now owns 3,456,000 shares of the medical equipment provider’s stock valued at $66,424,000 after purchasing an additional 1,100,000 shares during the period. Wellington Management Group LLP increased its holdings in shares of 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 valued at $129,989,000 after purchasing an additional 287,936 shares during the period. Finally, Norges Bank acquired a new position in shares of Nevro during the fourth quarter valued at $50,205,000. Institutional investors own 95.52% of the company’s stock.

Nevro Company Profile

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.