Nevro Corp. (NYSE:NVRO) Receives Consensus Rating of “Hold” from Brokerages

Nevro Corp. (NYSE:NVROGet Rating) has received an average rating of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $54.67.

NVRO has been the topic of several recent analyst reports. William Blair reissued a “market perform” rating on shares of Nevro in a research note on Wednesday, November 2nd. Canaccord Genuity Group upgraded shares of Nevro from a “hold” rating to a “buy” rating and raised their price target for the stock from $41.00 to $67.00 in a report on Tuesday, December 20th. Truist Financial dropped their price objective on shares of Nevro from $45.00 to $41.00 and set a “hold” rating on the stock in a report on Tuesday, December 20th. Jefferies Financial Group began coverage on Nevro in a research report on Wednesday, October 12th. They issued an “underperform” rating and a $31.00 target price for the company. Finally, Morgan Stanley dropped their price target on Nevro from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th.

Nevro Price Performance

NVRO opened at $38.90 on Wednesday. Nevro has a twelve month low of $34.70 and a twelve month high of $78.90. The company has a fifty day moving average of $40.82 and a 200-day moving average of $43.15. The company has a current ratio of 7.05, a quick ratio of 5.82 and a debt-to-equity ratio of 0.57.

Nevro (NYSE:NVROGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. Nevro had a negative return on equity of 40.89% and a negative net margin of 2.01%. The firm had revenue of $100.47 million during the quarter, compared to the consensus estimate of $99.08 million. Analysts predict that Nevro will post -2.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVRO. Exchange Traded Concepts LLC lifted its stake in Nevro by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 32,102 shares of the medical equipment provider’s stock valued at $1,271,000 after acquiring an additional 936 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Nevro by 46.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 221,072 shares of the medical equipment provider’s stock valued at $8,754,000 after buying an additional 69,616 shares during the last quarter. M&T Bank Corp increased its stake in Nevro by 10.9% in the 3rd quarter. M&T Bank Corp now owns 14,226 shares of the medical equipment provider’s stock valued at $662,000 after buying an additional 1,398 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Nevro during the 3rd quarter worth approximately $380,000. Finally, Nomura Holdings Inc. boosted its stake in shares of Nevro by 34.6% in the 3rd quarter. Nomura Holdings Inc. now owns 55,414 shares of the medical equipment provider’s stock worth $2,597,000 after buying an additional 14,256 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

About Nevro

(Get Rating)

Nevro Corp. engages in the provision of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

See Also

Analyst Recommendations for Nevro (NYSE:NVRO)

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