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

Shares of Nevro Corp. (NYSE:NVRO) have received a consensus recommendation of “Reduce” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $6.30.

NVRO has been the topic of a number of research reports. JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Truist Financial decreased their price target on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Robert W. Baird raised their target price on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Piper Sandler decreased their target price on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVRO. Bank of New York Mellon Corp lifted its holdings in Nevro by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock valued at $1,077,000 after acquiring an additional 8,673 shares during the last quarter. Rhumbline Advisers lifted its holdings in Nevro by 5.0% in the second quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after acquiring an additional 2,836 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Nevro by 154.1% in the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock valued at $2,029,000 after acquiring an additional 146,276 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Nevro by 5.0% in the second quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider’s stock valued at $3,099,000 after acquiring an additional 17,600 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Nevro by 13.9% in the second quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock valued at $500,000 after acquiring an additional 7,250 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Trading Down 6.0 %

Shares of Nevro stock opened at $3.28 on Friday. The firm has a market capitalization of $122.91 million, a PE ratio of -1.74 and a beta of 0.86. Nevro has a twelve month low of $3.16 and a twelve month high of $20.41. The firm’s 50-day moving average price is $4.24 and its 200 day moving average price is $5.74. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

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