Nevro Corp (NVRO) Receives $64.64 Average PT from Brokerages

Nevro Corp (NYSE:NVRO) has received an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $64.64.

A number of analysts have recently commented on NVRO shares. Morgan Stanley cut their price target on Nevro from $43.00 to $38.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded Nevro from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, January 9th. Northland Securities restated a “hold” rating and set a $48.00 price objective on shares of Nevro in a research report on Friday, January 11th. BMO Capital Markets downgraded Nevro from an “outperform” rating to a “market perform” rating in a research report on Friday, February 22nd. Finally, Bank of America upgraded Nevro from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $70.00 in a research report on Wednesday, March 20th.

Shares of NVRO stock traded down $0.11 during mid-day trading on Friday, reaching $65.58. 823,571 shares of the stock traded hands, compared to its average volume of 713,215. Nevro has a 1-year low of $34.75 and a 1-year high of $94.34. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -39.99 and a beta of 0.21. The company has a current ratio of 7.11, a quick ratio of 5.64 and a debt-to-equity ratio of 0.62.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Thursday, February 21st. The medical equipment provider reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.15). Nevro had a negative net margin of 12.70% and a negative return on equity of 20.13%. The firm had revenue of $107.90 million for the quarter, compared to analyst estimates of $107.39 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Nevro will post -2.31 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of NVRO. Advisor Group Inc. increased its holdings in Nevro by 64.5% in the fourth quarter. Advisor Group Inc. now owns 921 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 361 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Nevro during the fourth quarter valued at approximately $113,000. Cerebellum GP LLC bought a new stake in shares of Nevro during the fourth quarter valued at approximately $177,000. HRT Financial LLC bought a new stake in shares of Nevro during the third quarter valued at approximately $208,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Nevro by 4,723.3% during the third quarter. Tower Research Capital LLC TRC now owns 4,341 shares of the medical equipment provider’s stock valued at $248,000 after acquiring an additional 4,251 shares in the last quarter.

About Nevro

Nevro Corp., a medical device company, provides products for the 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.

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Analyst Recommendations for Nevro (NYSE:NVRO)

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