Nevro (NYSE:NVRO) Given New $13.00 Price Target at Wells Fargo & Company

Nevro (NYSE:NVRO) had its target price cut by Wells Fargo & Company from $14.00 to $13.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Robert W. Baird dropped their target price on shares of Nevro from $23.00 to $19.00 and set a neutral rating on the stock in a report on Thursday, February 22nd. Piper Sandler dropped their target price on shares of Nevro from $15.00 to $12.00 and set an underweight rating on the stock in a report on Wednesday. StockNews.com raised shares of Nevro from a sell rating to a hold rating in a report on Friday, March 1st. Royal Bank of Canada dropped their target price on shares of Nevro from $18.00 to $16.00 and set a sector perform rating on the stock in a report on Monday, April 15th. Finally, Mizuho lowered their price target on shares of Nevro from $20.00 to $16.00 and set a neutral rating on the stock in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nevro currently has a consensus rating of Hold and an average target price of $20.00.

Nevro Stock Up 3.5 %

NYSE:NVRO traded up $0.36 on Wednesday, hitting $10.52. 586,707 shares of the company’s stock were exchanged, compared to its average volume of 506,214. The firm has a 50-day moving average price of $13.12 and a 200-day moving average price of $16.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94. Nevro has a 52 week low of $10.02 and a 52 week high of $28.89. The company has a market cap of $385.88 million, a P/E ratio of -3.96 and a beta of 0.96.

Nevro (NYSE:NVRO) last issued 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. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The firm had revenue of $101.90 million for the quarter, compared to analysts’ expectations of $97.90 million. During the same period in the previous year, the firm posted ($0.98) EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts expect that Nevro will post -2.54 EPS for the current fiscal year.

Institutional Trading of Nevro

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its position 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 buying an additional 730 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Nevro by 83.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,970 shares of the medical equipment provider’s stock valued at $192,000 after acquiring an additional 4,547 shares during the last quarter. Versor Investments LP raised its stake in shares of Nevro by 22.9% during the third quarter. Versor Investments LP now owns 11,017 shares of the medical equipment provider’s stock valued at $212,000 after acquiring an additional 2,050 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Nevro by 14.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Natixis Advisors L.P. bought a new position in shares of Nevro during the third quarter valued at $248,000. Institutional investors and hedge funds 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.