Nevro’s (NVRO) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Nevro (NYSE:NVRO)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $7.00 target price on the medical equipment provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 20.07% from the stock’s current price.

NVRO has been the subject of several other research reports. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Truist Financial reduced their price objective on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $13.00 to $5.50 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley dropped their price objective on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, Nevro presently has a consensus rating of “Hold” and a consensus target price of $9.50.

Nevro Stock Performance

Shares of NYSE:NVRO traded up $0.51 on Tuesday, reaching $5.83. The company’s stock had a trading volume of 882,650 shares, compared to its average volume of 554,086. The stock has a market capitalization of $217.34 million, a P/E ratio of -2.98 and a beta of 0.93. Nevro has a 52-week low of $4.38 and a 52-week high of $22.64. The stock’s 50-day moving average is $5.25 and its two-hundred day moving average is $7.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVRO. State Board of Administration of Florida Retirement System boosted its position in shares of Nevro by 14.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after buying an additional 1,430 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of 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 purchasing an additional 2,836 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Nevro by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock worth $651,000 after purchasing an additional 7,004 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Nevro by 13.9% during the 2nd quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 7,250 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

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.