Nevro Corp. (NYSE:NVRO) Given Average Rating of “Hold” by Analysts

Nevro Corp. (NYSE:NVRO) has been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.54.

A number of equities research analysts have recently commented on NVRO shares. Royal Bank of Canada downgraded Nevro from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $23.00 to $20.00 in a research report on Friday, January 12th. Mizuho cut their target price on shares of Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday. Canaccord Genuity Group downgraded shares of Nevro from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Thursday, December 21st. Oppenheimer downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 22nd. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $23.00 target price on shares of Nevro in a research note on Thursday, December 21st.

Hedge Funds Weigh In On Nevro

A number of hedge funds have recently modified their holdings of NVRO. Quarry LP increased its stake in shares of Nevro by 174.3% in the second quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 643 shares during the last quarter. UBS Group AG raised its holdings in Nevro by 206.3% during the fourth quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 821 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Nevro by 26.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 668 shares in the last quarter. Assetmark Inc. raised its holdings in Nevro by 30.4% during 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. Finally, Counterpoint Mutual Funds LLC bought a new position in Nevro during the third quarter valued at about $132,000. 95.52% of the stock is owned by institutional investors and hedge funds.

Nevro Price Performance

Shares of NYSE:NVRO opened at $13.12 on Friday. Nevro has a one year low of $12.34 and a one year high of $39.67. The stock has a fifty day moving average of $14.96 and a 200-day moving average of $17.06. The company has a market capitalization of $477.54 million, a PE ratio of -5.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Wednesday, February 21st. The medical equipment provider reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $116.18 million during the quarter, compared to the consensus estimate of $115.93 million. As a group, equities analysts anticipate that Nevro will post -2.53 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.