Nevro (NYSE:NVRO) PT Lowered to $12.00 at Piper Sandler

Nevro (NYSE:NVRO) had its price target lowered by Piper Sandler from $15.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an underweight rating on the medical equipment provider’s stock.

A number of other research firms have also weighed in on NVRO. Robert W. Baird lowered their price objective on Nevro from $23.00 to $19.00 and set a neutral rating on the stock in a research note on Thursday, February 22nd. Citigroup cut their price objective on shares of Nevro from $18.00 to $16.00 and set a neutral rating for the company in a research report on Wednesday, April 3rd. Mizuho decreased their target price on shares of Nevro from $20.00 to $16.00 and set a neutral rating on the stock in a report on Thursday, April 11th. Oppenheimer downgraded shares of Nevro from an outperform rating to a market perform rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada decreased their price objective on Nevro from $18.00 to $16.00 and set a sector perform rating on the stock in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Nevro currently has a consensus rating of Hold and an average target price of $20.00.

Nevro Trading Down 11.8 %

Shares of NVRO stock opened at $10.17 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94. The company has a market cap of $373.04 million, a price-to-earnings ratio of -3.96 and a beta of 0.96. Nevro has a 1-year low of $10.06 and a 1-year high of $28.89. The stock has a 50 day simple moving average of $13.12 and a 200-day simple moving average of $16.23.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.32. The company had revenue of $101.90 million during the quarter, compared to the consensus estimate of $97.90 million. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. Nevro’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.98) EPS. On average, equities research analysts expect that Nevro will post -2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several institutional investors have recently modified their holdings of the business. Federated Hermes Inc. raised its holdings in Nevro by 380.1% in the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock valued at $9,278,000 after acquiring an additional 341,343 shares in the last quarter. Palo Alto Investors LP boosted its position in shares of Nevro by 107.7% during the 3rd quarter. Palo Alto Investors LP now owns 386,832 shares of the medical equipment provider’s stock worth $7,435,000 after acquiring an additional 200,573 shares in the last quarter. Swiss National Bank increased its holdings in shares of Nevro by 1.3% in the 3rd quarter. Swiss National Bank now owns 78,800 shares of the medical equipment provider’s stock valued at $1,515,000 after acquiring an additional 1,000 shares during the last quarter. Walleye Capital LLC raised its position in shares of Nevro by 301.4% during the 3rd quarter. Walleye Capital LLC now owns 118,764 shares of the medical equipment provider’s stock worth $2,283,000 after acquiring an additional 89,179 shares in the last quarter. Finally, UBS Group AG lifted its stake in 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 purchasing an additional 898,629 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.