Nevro (NYSE:NVRO) PT Lowered to $16.00

Nevro (NYSE:NVRO) had its price target cut by Royal Bank of Canada from $18.00 to $16.00 in a research report report published on Monday morning, Benzinga reports. They currently have a sector perform rating on the medical equipment provider’s stock.

A number of other brokerages have also weighed in on NVRO. Canaccord Genuity Group reaffirmed a hold rating and issued a $23.00 price target on shares of Nevro in a research note on Thursday, December 21st. StockNews.com raised shares of Nevro from a sell rating to a hold rating in a research note on Friday, March 1st. Wells Fargo & Company cut their target price on shares of Nevro from $17.00 to $14.00 and set an equal weight rating for the company in a research note on Monday, April 8th. Canaccord Genuity Group downgraded shares of Nevro from a buy rating to a hold rating and set a $23.00 price target for the company. in a research report on Thursday, December 21st. Finally, Mizuho reduced their price target on shares of Nevro from $20.00 to $16.00 and set a neutral rating for the company in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $21.23.

Nevro Price Performance

NVRO opened at $12.32 on Monday. 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 has a 1-year low of $12.05 and a 1-year high of $39.67. The company has a 50-day moving average of $14.63 and a 200-day moving average of $16.86. The company has a market capitalization of $451.90 million, a P/E ratio of -4.76 and a beta of 0.89.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.35. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The business had revenue of $116.18 million during the quarter, compared to the consensus estimate of $115.93 million. Equities analysts expect that Nevro will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Nevro

A number of hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Nevro in the fourth quarter worth about $50,205,000. Armistice Capital LLC raised its stake in shares of Nevro by 46.7% during the third quarter. Armistice Capital LLC now owns 3,456,000 shares of the medical equipment provider’s stock worth $66,424,000 after buying an additional 1,100,000 shares during the last quarter. UBS Group AG raised its stake in shares of Nevro by 19,354.5% during the third quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider’s stock worth $17,361,000 after buying an additional 898,629 shares during the last quarter. Millennium Management LLC raised its stake in shares of Nevro by 226.7% during the fourth quarter. Millennium Management LLC now owns 920,448 shares of the medical equipment provider’s stock worth $36,450,000 after buying an additional 638,718 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Nevro by 13.7% during the first quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock worth $341,322,000 after buying an additional 568,749 shares during the last quarter. 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.