Nevro (NYSE:NVRO) PT Lowered to $5.50

Nevro (NYSE:NVRO) had its price target dropped by Truist Financial from $10.00 to $5.50 in a report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the medical equipment provider’s stock. Truist Financial’s target price indicates a potential downside of 8.49% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Robert W. Baird reduced their price target on Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler decreased their price target on Nevro from $12.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday. Mizuho lowered their target price on Nevro from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $13.00 to $5.50 in a research report on Wednesday. Finally, Citigroup reduced their price objective on Nevro from $9.00 to $8.20 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, Nevro currently has a consensus rating of “Hold” and an average target price of $10.63.

Nevro Trading Up 6.0 %

Shares of NYSE NVRO traded up $0.34 during trading on Thursday, reaching $6.01. The stock had a trading volume of 1,729,642 shares, compared to its average volume of 567,455. Nevro has a fifty-two week low of $4.38 and a fifty-two week high of $22.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.57 and a current ratio of 7.38. The business’s 50-day moving average price is $8.82 and its 200-day moving average price is $11.96. The company has a market cap of $220.74 million, a P/E ratio of -2.62 and a beta of 0.91.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.10. Nevro had a negative return on equity of 27.48% and a negative net margin of 19.17%. The business had revenue of $104.16 million during the quarter, compared to analysts’ expectations of $107.11 million. During the same period in the prior year, the firm posted ($0.69) EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Nevro will post -2.14 EPS for the current fiscal year.

Institutional Trading of Nevro

Large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in shares of Nevro by 380.1% during the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock worth $9,278,000 after acquiring an additional 341,343 shares in the last quarter. Norges Bank purchased a new position in shares of Nevro in the fourth quarter worth $8,498,000. Goldman Sachs Group Inc. increased its stake in shares of Nevro by 69.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after buying an additional 431,136 shares during the period. Nomura Holdings Inc. increased its stake in shares of Nevro by 28.1% in the fourth quarter. Nomura Holdings Inc. now owns 59,250 shares of the medical equipment provider’s stock worth $1,275,000 after buying an additional 13,000 shares during the period. Finally, Jump Financial LLC purchased a new position in Nevro during the 4th quarter valued at $893,000. Hedge funds and other institutional investors 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.