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

Shares of Nevro Corp. (NYSE:NVRO) have been given an average recommendation of “Reduce” by the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to 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 subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Truist Financial dropped their price target on shares of Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $6.00 to $5.85 in a research note on Friday, February 7th. StockNews.com began coverage on shares of Nevro in a research note on Sunday. They set a “hold” rating for the company. Finally, Canaccord Genuity Group increased their target price on Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a research report on Friday, February 7th.

Institutional Investors Weigh In On Nevro

Several institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP lifted its position in Nevro by 39.9% during the 4th quarter. Two Sigma Investments LP now owns 219,319 shares of the medical equipment provider’s stock worth $816,000 after acquiring an additional 62,568 shares in the last quarter. State of Wyoming lifted its position in shares of Nevro by 55.6% during the fourth quarter. State of Wyoming now owns 31,043 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 11,091 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Nevro during the fourth quarter worth $136,000. Nuveen Asset Management LLC boosted its stake in shares of Nevro by 5.1% in the fourth quarter. Nuveen Asset Management LLC now owns 369,554 shares of the medical equipment provider’s stock valued at $1,375,000 after purchasing an additional 17,878 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in Nevro by 20.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock valued at $6,709,000 after purchasing an additional 306,943 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Stock Performance

NYSE:NVRO opened at $5.85 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The firm has a market cap of $224.28 million, a PE ratio of -3.09 and a beta of 0.94. The firm has a 50 day simple moving average of $5.61 and a 200-day simple moving average of $4.97. Nevro has a 1-year low of $3.17 and a 1-year high of $13.84.

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

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.