Nevro Corp. (NYSE:NVRO) Receives Average Recommendation of “Reduce” from Analysts

Shares of Nevro Corp. (NYSE:NVRO) have received an average recommendation of “Reduce” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.30.

NVRO has been the topic of several recent research reports. Morgan Stanley downgraded Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Truist Financial reduced their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Robert W. Baird upped their price objective on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Canaccord Genuity Group reduced their target price on Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, December 9th. Finally, StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th.

Institutional Investors Weigh In On Nevro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC increased its stake in Nevro by 2.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock worth $24,547,000 after acquiring an additional 102,150 shares during the last quarter. Armistice Capital LLC increased its stake in Nevro by 1.3% during the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock worth $30,918,000 after acquiring an additional 48,000 shares during the last quarter. Engaged Capital LLC increased its stake in Nevro by 29.5% during the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after acquiring an additional 557,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 worth $5,590,000 after acquiring an additional 566,462 shares during the last quarter. Finally, Western Standard LLC acquired a new stake in Nevro during the third quarter worth about $5,473,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Stock Up 5.6 %

NVRO opened at $3.79 on Wednesday. The business’s fifty day moving average is $4.66 and its two-hundred day moving average is $6.27. 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 company has a market cap of $142.02 million, a price-to-earnings ratio of -2.01 and a beta of 0.84. Nevro has a one year low of $3.52 and a one year high of $22.52.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same period in the prior year, the business earned ($0.65) earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Analysts anticipate 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.