Nevro (NYSE:NVRO) PT Lowered to $12.00 at Piper Sandler

Nevro (NYSE:NVRO) had its target price reduced by investment analysts at Piper Sandler from $15.00 to $12.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the medical equipment provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 4.08% from the stock’s current price.

NVRO has been the subject of several other reports. Oppenheimer downgraded Nevro from an “outperform” rating to a “market perform” rating in a report on Thursday, February 22nd. Wells Fargo & Company dropped their price target on shares of Nevro from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Royal Bank of Canada reduced their price objective on shares of Nevro from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Monday, April 15th. StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Robert W. Baird decreased their price objective on shares of Nevro from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Nevro Stock Up 3.4 %

Nevro stock opened at $11.53 on Wednesday. Nevro has a twelve month low of $10.27 and a twelve month high of $28.89. The firm has a market capitalization of $422.92 million, a P/E ratio of -4.49 and a beta of 0.96. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $13.21 and its 200-day simple moving average is $16.27.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.70) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.32. The company had revenue of $101.90 million during the quarter, compared to analysts’ expectations of $97.90 million. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.98) EPS. As a group, equities analysts expect that Nevro will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in Nevro by 30.4% during the 4th 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Nevro by 83.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,970 shares of the medical equipment provider’s stock worth $192,000 after purchasing an additional 4,547 shares during the last quarter. Versor Investments LP grew its holdings in Nevro by 22.9% during the 3rd quarter. Versor Investments LP now owns 11,017 shares of the medical equipment provider’s stock valued at $212,000 after buying an additional 2,050 shares during the last quarter. Natixis Advisors L.P. purchased a new position in Nevro during the third quarter worth $248,000. Finally, SG Americas Securities LLC acquired a new position in shares of Nevro in the third quarter worth $274,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.