Nevro (NYSE:NVRO) Price Target Cut to $15.00

Posted by on Nov 4th, 2023

Nevro (NYSE:NVRO – Get Free Report) had its price target decreased by equities research analysts at Piper Sandler from $24.00 to $15.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the medical equipment provider’s stock. Piper Sandler’s price target suggests a potential downside of 6.60% from the company’s previous close.

A number of other analysts have also issued reports on the company. Robert W. Baird lowered their target price on Nevro from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, August 2nd. Mizuho lowered their target price on Nevro from $40.00 to $30.00 in a report on Monday, July 17th. Oppenheimer lowered their target price on Nevro from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Canaccord Genuity Group lowered their target price on Nevro from $68.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Finally, JMP Securities decreased their price objective on Nevro from $75.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Read Our Latest Stock Report on Nevro

Nevro Stock Up 7.3 %

Shares of NVRO stock opened at $16.06 on Thursday. The stock’s 50 day simple moving average is $18.24 and its 200 day simple moving average is $22.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 5.30 and a current ratio of 6.85. Nevro has a twelve month low of $13.98 and a twelve month high of $48.10. The company has a market capitalization of $580.09 million, a price-to-earnings ratio of -5.62 and a beta of 0.88.

Nevro (NYSE:NVRO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.65) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.12. Nevro had a negative return on equity of 33.40% and a negative net margin of 24.22%. The business had revenue of $103.86 million for the quarter, compared to the consensus estimate of $95.87 million. During the same period last year, the business earned ($0.62) EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts predict that Nevro will post -2.96 EPS for the current year.

Institutional Trading of Nevro

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Nevro by 13.7% in the 1st quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock valued at $341,322,000 after buying an additional 568,749 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nevro by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,621,085 shares of the medical equipment provider’s stock valued at $168,743,000 after buying an additional 60,289 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Nevro by 36.5% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,189 shares of the medical equipment provider’s stock valued at $46,193,000 after buying an additional 485,433 shares in the last quarter. Wellington Management Group LLP boosted its stake in Nevro by 19.1% in the 1st quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider’s stock valued at $129,989,000 after buying an additional 287,936 shares in the last quarter. Finally, Norges Bank acquired a new stake in Nevro in the 4th quarter valued at $50,205,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

About Nevro

(Get Free Report)

Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation system for the treatment of chronic pain, as well as Senza II and Senza Omnia SCS systems.

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