Nevro Corp. (NYSE:NVRO) Given Average Recommendation of "Buy" by Brokerages

Thursday, April 8, 2021 | MarketBeat

Shares of Nevro Corp. (NYSE:NVRO) have been given a consensus rating of "Buy" by the sixteen research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $179.00.

A number of equities analysts have issued reports on the stock. Truist raised their target price on shares of Nevro from $175.00 to $205.00 in a report on Wednesday, January 6th. Canaccord Genuity raised their target price on shares of Nevro from $203.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, February 25th. SVB Leerink reissued a "buy" rating on shares of Nevro in a report on Thursday, March 4th. Piper Sandler assumed coverage on shares of Nevro in a report on Tuesday, February 2nd. They issued an "overweight" rating and a $190.00 target price on the stock. Finally, Robert W. Baird raised their target price on shares of Nevro from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, January 5th.

NYSE:NVRO opened at $141.60 on Thursday. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -52.06 and a beta of 1.02. Nevro has a one year low of $100.59 and a one year high of $188.14. The stock has a 50-day simple moving average of $152.48 and a 200 day simple moving average of $161.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.75 and a current ratio of 3.10.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Tuesday, February 23rd. The medical equipment provider reported ($0.21) EPS for the quarter, topping the Zacks' consensus estimate of ($0.33) by $0.12. Nevro had a negative return on equity of 30.25% and a negative net margin of 24.46%. On average, equities research analysts forecast that Nevro will post -2.64 EPS for the current fiscal year.

In other news, insider Niamh Louise Pellegrini sold 750 shares of Nevro stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $182.55, for a total transaction of $136,912.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 2,250 shares of company stock worth $375,323. Corporate insiders own 7.60% of the company's stock.

Large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new stake in Nevro during the fourth quarter worth approximately $26,000. Capstone Triton Financial Group LLC bought a new stake in Nevro during the fourth quarter worth approximately $45,000. Bessemer Group Inc. bought a new stake in Nevro during the fourth quarter worth approximately $73,000. Cim Investment Mangement Inc. bought a new stake in Nevro during the fourth quarter worth approximately $202,000. Finally, CIBC Asset Management Inc acquired a new position in Nevro in the fourth quarter worth approximately $205,000.

Nevro Company Profile

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 system, an evidence-based neuromodulation platform for the treatment of chronic pain, as well as Senza II and Senza Omnia systems.

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Analyst Recommendations for Nevro (NYSE:NVRO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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