Nevro (NYSE:NVRO) PT Lowered to $16.00

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

NVRO has been the subject of several other reports. Citigroup lowered their target price on Nevro from $18.00 to $16.00 and set a neutral rating for the company in a research note on Wednesday, April 3rd. Canaccord Genuity Group cut shares of Nevro from a buy rating to a hold rating and set a $23.00 target price on the stock. in a report on Thursday, December 21st. Truist Financial lifted their price target on Nevro from $22.00 to $23.00 and gave the company a hold rating in a report on Friday, December 22nd. Canaccord Genuity Group reaffirmed a hold rating and set a $23.00 price target on shares of Nevro in a report on Thursday, December 21st. Finally, Robert W. Baird cut their price target on Nevro from $23.00 to $19.00 and set a neutral rating on the stock in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $21.23.

Nevro Trading Up 0.2 %

Shares of Nevro stock opened at $12.32 on Monday. The company has a quick ratio of 4.94, a current ratio of 6.37 and a debt-to-equity ratio of 0.72. The firm has a market cap of $451.90 million, a PE ratio of -4.76 and a beta of 0.89. The business’s fifty day moving average is $14.63 and its two-hundred day moving average is $16.86. Nevro has a fifty-two week low of $12.05 and a fifty-two week high of $39.67.

Nevro (NYSE:NVRO) last announced 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 during the quarter, compared to the consensus estimate of $115.93 million. Analysts anticipate that Nevro will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Nevro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Nevro by 174.3% during the 2nd quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 643 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Nevro by 26.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider’s stock worth $61,000 after purchasing an additional 668 shares during the period. California State Teachers Retirement System increased its holdings in shares of Nevro by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 43,215 shares of the medical equipment provider’s stock worth $1,099,000 after purchasing an additional 670 shares during the period. Assetmark Inc. increased its stake in Nevro by 30.4% in the fourth quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock valued at $67,000 after acquiring an additional 730 shares during the period. Finally, Rhumbline Advisers increased its stake in Nevro by 1.6% in the first quarter. Rhumbline Advisers now owns 47,080 shares of the medical equipment provider’s stock valued at $1,702,000 after acquiring an additional 744 shares during the period. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.