Nevro (NYSE:NVRO) PT Lowered to $16.00 at Royal Bank of Canada

Nevro (NYSE:NVRO) had its price objective decreased by Royal Bank of Canada from $18.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the medical equipment provider’s stock.

NVRO has been the topic of several other research reports. Truist Financial increased their price target on Nevro from $22.00 to $23.00 and gave the stock a hold rating in a report on Friday, December 22nd. Mizuho cut their price target on Nevro from $20.00 to $16.00 and set a neutral rating on the stock in a report on Thursday, April 11th. Wells Fargo & Company cut their price target on Nevro from $17.00 to $14.00 and set an equal weight rating on the stock in a report on Monday, April 8th. Oppenheimer lowered Nevro from an outperform rating to a market perform rating in a report on Thursday, February 22nd. Finally, StockNews.com upgraded Nevro from a sell rating to a hold rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $21.23.

Nevro Trading Down 5.6 %

NYSE NVRO opened at $12.49 on Monday. The business has a 50 day simple moving average of $14.90 and a 200 day simple moving average of $16.99. Nevro has a one year low of $12.34 and a one year high of $39.67. The stock has a market capitalization of $454.61 million, a P/E ratio of -4.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94.

Nevro (NYSE:NVRO) last released its 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. 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%. Research analysts expect that Nevro will post -2.54 earnings per share for the current year.

Institutional Trading of Nevro

A number of hedge funds have recently bought and sold shares of the business. Nomura Holdings Inc. lifted its holdings in Nevro by 28.1% during the fourth quarter. Nomura Holdings Inc. now owns 59,250 shares of the medical equipment provider’s stock worth $1,275,000 after acquiring an additional 13,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Nevro by 69.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after acquiring an additional 431,136 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Nevro by 4.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,012 shares of the medical equipment provider’s stock worth $819,000 after acquiring an additional 1,583 shares during the period. Palo Alto Investors LP increased its position in Nevro by 94.0% in the fourth quarter. Palo Alto Investors LP now owns 750,371 shares of the medical equipment provider’s stock worth $16,148,000 after buying an additional 363,539 shares during the last quarter. Finally, Barclays PLC increased its position in Nevro by 256.1% in the fourth quarter. Barclays PLC now owns 62,786 shares of the medical equipment provider’s stock worth $1,352,000 after buying an additional 45,154 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

About Nevro

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.