Nevro Corp. (NYSE:NVRO) Receives Average Recommendation of “Reduce” from Analysts

Shares of Nevro Corp. (NYSE:NVRO) have been given a consensus rating of “Reduce” by the fourteen brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating and eleven have issued a hold rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.10.

Several research firms recently commented on NVRO. Royal Bank of Canada reissued a “sector perform” rating and set a $7.00 target price on shares of Nevro in a research note on Tuesday, November 12th. Robert W. Baird increased their price objective on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Canaccord Genuity Group reduced their target price on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th.

Hedge Funds Weigh In On Nevro

Several institutional investors and hedge funds have recently modified their holdings of NVRO. ArrowMark Colorado Holdings LLC boosted its position in Nevro by 2.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock valued at $24,547,000 after purchasing an additional 102,150 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Nevro by 1.3% during the 2nd quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock worth $30,918,000 after purchasing an additional 48,000 shares in the last quarter. Engaged Capital LLC lifted its holdings in shares of Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after buying an additional 557,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nevro by 130.7% during the 3rd 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 buying an additional 566,462 shares during the last quarter. Finally, Western Standard LLC bought a new stake in shares of Nevro in the 3rd quarter valued at approximately $5,473,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Nevro Stock Up 0.4 %

NVRO opened at $4.60 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The company has a market capitalization of $172.36 million, a PE ratio of -2.43 and a beta of 0.93. The stock’s fifty day moving average is $4.97 and its 200-day moving average is $6.91. Nevro has a one year low of $3.95 and a one year high of $22.64.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. During the same period in the previous year, the business earned ($0.65) earnings per share. Nevro’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities analysts predict that Nevro will post -2.43 EPS for the current fiscal year.

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.