Nevro Corp. (NYSE:NVRO) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Nevro Corp. (NYSE:NVRO) have received a consensus recommendation of “Reduce” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.43.

NVRO has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $7.00 price target on shares of Nevro in a research note on Tuesday, November 12th. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $9.00 to $4.00 in a research note on Monday, December 2nd. Wells Fargo & Company dropped their price target on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Citigroup decreased their price objective on Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Finally, Truist Financial dropped their target price on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a report on Wednesday, December 18th.

Institutional Investors Weigh In On Nevro

A number of hedge funds and other institutional investors have recently bought and sold shares of NVRO. Amundi acquired a new position in Nevro in the fourth quarter worth $30,000. Oxford Asset Management LLP bought a new position in shares of Nevro in the fourth quarter valued at about $39,000. Corton Capital Inc. acquired a new position in Nevro during the 4th quarter worth about $43,000. Headlands Technologies LLC bought a new stake in Nevro during the 4th quarter worth about $45,000. Finally, Ieq Capital LLC acquired a new stake in Nevro in the 4th quarter valued at about $46,000. 95.52% of the stock is owned by institutional investors and hedge funds.

Nevro Stock Performance

NYSE:NVRO opened at $5.78 on Monday. The firm’s 50-day moving average is $4.97 and its 200-day moving average is $4.94. The company has a market cap of $216.40 million, a price-to-earnings ratio of -3.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro has a 52-week low of $3.17 and a 52-week high of $15.98.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. Equities research analysts anticipate that Nevro will post -2.44 earnings per share for the current year.

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.