Nevro (NYSE:NVRO) PT Lowered to $16.00 at Royal Bank of Canada

Nevro (NYSE:NVRO) had its price target lowered by Royal Bank of Canada from $18.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the medical equipment provider’s stock.

Several other equities research analysts have also recently weighed in on NVRO. Truist Financial increased their price target on shares of Nevro from $22.00 to $23.00 and gave the company a hold rating in a research report on Friday, December 22nd. Robert W. Baird dropped their price target on shares of Nevro from $23.00 to $19.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Mizuho dropped their price target on shares of Nevro from $20.00 to $16.00 and set a neutral rating for the company in a research report on Thursday, April 11th. StockNews.com raised shares of Nevro from a sell rating to a hold rating in a research report on Friday, March 1st. Finally, Oppenheimer cut shares of Nevro from an outperform rating to a market perform rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $21.23.

Nevro Price Performance

NVRO stock opened at $12.29 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37. Nevro has a 52 week low of $12.15 and a 52 week high of $39.67. The firm’s fifty day moving average is $14.72 and its 200 day moving average is $16.89. The firm has a market cap of $450.80 million, a P/E ratio of -4.94 and a beta of 0.89.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quarry LP increased its stake in shares of Nevro by 174.3% in the 2nd quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 643 shares in the last quarter. UBS Group AG increased its stake in shares of Nevro by 206.3% in the 4th quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 821 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Nevro by 26.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 668 shares in the last quarter. Assetmark Inc. increased its stake in shares of Nevro by 30.4% in the 4th quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock worth $67,000 after acquiring an additional 730 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Nevro in the 3rd quarter worth about $132,000. 95.52% of the stock is currently owned by institutional investors.

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.