Nevro Corp. (NYSE:NVRO) Given Average Rating of “Reduce” by Analysts

Shares of Nevro Corp. (NYSE:NVRO) have received a consensus rating of “Reduce” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.43.

Several equities research analysts recently issued reports on the stock. Citigroup dropped their price target on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Robert W. Baird lifted their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price target on shares of Nevro in a report on Tuesday, November 12th. Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $4.50 to $5.85 in a report on Monday. Finally, StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th.

Institutional Investors Weigh In On Nevro

A number of hedge funds have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC increased its holdings in shares of Nevro by 2.4% in the 3rd 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 period. Engaged Capital LLC grew its position in Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after purchasing 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 shares of Nevro by 130.7% in 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 valued at $5,590,000 after purchasing an additional 566,462 shares during the period. Western Standard LLC bought a new stake in shares of Nevro during the third quarter valued at approximately $5,473,000. Finally, Millennium Management LLC boosted its position in shares of Nevro by 21.4% during the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after buying an additional 168,573 shares during the period. 95.52% of the stock is currently owned by institutional investors.

Nevro Stock Performance

Shares of NYSE:NVRO opened at $5.72 on Thursday. The business’s 50-day simple moving average is $4.30 and its 200 day simple moving average is $5.15. The company has a market cap of $214.19 million, a P/E ratio of -3.02 and a beta of 0.91. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro has a one year low of $3.16 and a one year high of $17.75.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. The company had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.65) earnings per share. On average, sell-side analysts forecast that Nevro will post -2.43 earnings per share 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.