Nevro Corp. (NYSE:NVRO) Given Average Recommendation of “Reduce” by Analysts

Shares of Nevro Corp. (NYSE:NVRO) have earned an average recommendation of “Reduce” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $9.10.

A number of brokerages have recently issued reports on NVRO. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Truist Financial decreased their price target on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Tuesday. JMP Securities reiterated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Finally, Robert W. Baird lifted their price target on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

Nevro Trading Up 3.9 %

NYSE NVRO opened at $4.53 on Friday. The stock’s 50 day moving average price is $5.13 and its two-hundred day moving average price is $7.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The stock has a market capitalization of $169.75 million, a price-to-earnings ratio of -2.40 and a beta of 0.93. Nevro has a 52 week low of $3.95 and a 52 week high of $22.64.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. During the same quarter last year, the company posted ($0.65) earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts anticipate that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Western Standard LLC purchased a new position in shares of Nevro during the 3rd quarter valued at about $5,473,000. Assenagon Asset Management S.A. boosted its position in Nevro by 490.7% during the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after buying an additional 605,134 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after buying an additional 566,462 shares during the last quarter. Engaged Capital LLC increased its holdings in shares of Nevro by 29.5% in the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after buying an additional 557,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Nevro by 50.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock valued at $4,096,000 after acquiring an additional 246,979 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

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.