Nevro (NYSE:NVRO) Price Target Raised to $6.00

Nevro (NYSE:NVRO) had its target price hoisted by Robert W. Baird from $5.00 to $6.00 in a report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the medical equipment provider’s stock.

A number of other brokerages have also recently issued reports on NVRO. JMP Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Wolfe Research raised shares of Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Royal Bank of Canada dropped their price objective on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.10.

Nevro Stock Performance

Shares of NVRO opened at $4.52 on Tuesday. The firm has a market cap of $169.36 million, a price-to-earnings ratio of -2.39 and a beta of 0.93. The company’s fifty day moving average is $5.18 and its 200-day moving average is $7.39. The company has a quick ratio of 3.53, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro has a 12 month low of $3.95 and a 12 month high of $22.64.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.40. The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Nevro’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.65) EPS. Equities analysts expect that Nevro will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Nevro

Several large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in shares of Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after buying an additional 6,565 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Nevro by 14.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after buying an additional 1,430 shares in the last quarter. Intech Investment Management LLC bought a new position in Nevro in the third quarter valued at about $69,000. Finally, SG Americas Securities LLC acquired a new stake in Nevro during the 3rd quarter worth approximately $71,000. 95.52% of the stock is currently owned by institutional investors.

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.