Nevro Corp. (NYSE:NVRO) Receives $21.54 Consensus PT from Brokerages

Nevro Corp. (NYSE:NVRO) has received a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.23.

Several analysts have issued reports on NVRO shares. Citigroup dropped their price target on Nevro from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Oppenheimer downgraded Nevro from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 22nd. Canaccord Genuity Group cut Nevro from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Thursday, December 21st. Royal Bank of Canada decreased their price objective on Nevro from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Wells Fargo & Company decreased their price objective on Nevro from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, April 8th.

Nevro Stock Performance

Shares of Nevro stock opened at $12.69 on Friday. The company has a market capitalization of $461.92 million, a PE ratio of -4.94 and a beta of 0.89. Nevro has a 12 month low of $12.23 and a 12 month high of $39.67. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $14.82 and its 200 day simple moving average is $16.94.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.35. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The firm had revenue of $116.18 million for the quarter, compared to the consensus estimate of $115.93 million. On average, research analysts predict that Nevro will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Nevro

Several hedge funds have recently bought and sold shares of NVRO. HighTower Advisors LLC lifted its position in Nevro by 15.7% during the first quarter. HighTower Advisors LLC now owns 17,629 shares of the medical equipment provider’s stock worth $1,275,000 after acquiring an additional 2,391 shares during the last quarter. Bank of Montreal Can lifted its position in Nevro by 171.3% during the first quarter. Bank of Montreal Can now owns 40,680 shares of the medical equipment provider’s stock worth $2,952,000 after acquiring an additional 25,684 shares during the last quarter. MetLife Investment Management LLC lifted its position in Nevro by 56.5% during the first quarter. MetLife Investment Management LLC now owns 18,940 shares of the medical equipment provider’s stock worth $1,370,000 after acquiring an additional 6,838 shares during the last quarter. BlackRock Inc. lifted its position in Nevro by 13.7% during the first quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock worth $341,322,000 after acquiring an additional 568,749 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in Nevro by 4.1% during the first quarter. Blair William & Co. IL now owns 50,995 shares of the medical equipment provider’s stock worth $3,688,000 after acquiring an additional 2,020 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.