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

Shares of Nevro Corp. (NYSE:NVRO) have received an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $21.23.

A number of research firms recently commented on NVRO. Mizuho dropped their price target on shares of Nevro from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Wells Fargo & Company dropped their target price on Nevro from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Oppenheimer cut Nevro from an “outperform” rating to a “market perform” rating in a report on Thursday, February 22nd. Finally, Robert W. Baird reduced their target price on Nevro from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd.

Nevro Trading Down 1.2 %

Shares of NVRO stock opened at $11.15 on Tuesday. The company has a market cap of $408.98 million, a PE ratio of -4.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94. The stock’s 50 day simple moving average is $13.28 and its two-hundred day simple moving average is $16.30. Nevro has a 1 year low of $10.27 and a 1 year high of $28.89.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.35. The company had revenue of $116.18 million for the quarter, compared to analyst estimates of $115.93 million. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. Research analysts predict that Nevro will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

Several institutional investors have recently made changes to their positions in NVRO. Armistice Capital LLC increased its position in Nevro by 46.7% during the 3rd 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. Goldman Sachs Group Inc. boosted its stake in shares of 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 valued at $22,554,000 after purchasing an additional 431,136 shares in the last quarter. UBS Group AG increased its holdings in Nevro by 19,354.5% during the third quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider’s stock valued at $17,361,000 after buying an additional 898,629 shares during the period. Principal Financial Group Inc. raised its stake in Nevro by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 720,529 shares of the medical equipment provider’s stock worth $15,506,000 after buying an additional 3,086 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Nevro by 380.1% during the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock worth $9,278,000 after buying an additional 341,343 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

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.