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

Posted by on Jun 7th, 2022

Shares of Nevro Corp. (NYSE:NVRO – Get Rating) have received a consensus rating of “Hold” from the eighteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $94.77.

NVRO has been the topic of several recent research reports. Canaccord Genuity Group reduced their target price on shares of Nevro from $97.00 to $72.00 and set a “hold” rating on the stock in a report on Friday, February 25th. Citigroup cut their price objective on shares of Nevro from $78.00 to $68.00 in a report on Tuesday, May 17th. Wells Fargo & Company cut their price objective on shares of Nevro from $116.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 24th. StockNews.com lowered shares of Nevro from a “hold” rating to a “sell” rating in a report on Friday. Finally, Wolfe Research initiated coverage on shares of Nevro in a report on Tuesday, April 5th. They issued an “underperform” rating and a $64.00 price objective on the stock.

Shares of NYSE NVRO opened at $47.39 on Tuesday. Nevro has a 52-week low of $41.02 and a 52-week high of $182.45. The firm has a fifty day moving average of $59.51 and a 200-day moving average of $70.84. The stock has a market capitalization of $1.67 billion, a PE ratio of -12.15 and a beta of 1.09. The company has a quick ratio of 5.68, a current ratio of 6.97 and a debt-to-equity ratio of 0.77.

Nevro (NYSE:NVRO – Get Rating) last posted its earnings results on Wednesday, May 4th. The medical equipment provider reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.11) by $0.13. The business had revenue of $87.40 million for the quarter, compared to analyst estimates of $86.19 million. Nevro had a negative net margin of 35.25% and a negative return on equity of 38.02%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.85) EPS. Equities research analysts expect that Nevro will post -2.87 EPS for the current fiscal year.

In other Nevro news, General Counsel Kashif Rashid acquired 1,500 shares of the stock in a transaction that occurred on Friday, March 11th. The stock was acquired at an average price of $64.04 per share, with a total value of $96,060.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Nevro by 13.7% in the 1st quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock worth $341,322,000 after acquiring an additional 568,749 shares during the period. Vanguard Group Inc. lifted its stake in shares of Nevro by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,252,411 shares of the medical equipment provider’s stock worth $235,246,000 after acquiring an additional 67,233 shares during the period. Wellington Management Group LLP lifted its stake in shares of Nevro by 19.1% in the 1st quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider’s stock worth $129,989,000 after acquiring an additional 287,936 shares during the period. Capital Research Global Investors lifted its stake in shares of Nevro by 15.6% in the 4th quarter. Capital Research Global Investors now owns 1,582,704 shares of the medical equipment provider’s stock worth $128,310,000 after acquiring an additional 213,670 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Nevro by 0.6% in the 1st quarter. Invesco Ltd. now owns 1,040,973 shares of the medical equipment provider’s stock worth $75,293,000 after acquiring an additional 6,323 shares during the period.

Nevro Company Profile (Get Rating)

Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain, as well as Senza II and Senza Omnia systems.

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