Citigroup Trims Nevro (NYSE:NVRO) Target Price to $16.00

Nevro (NYSE:NVRO - Free Report) had its target price cut by Citigroup from $18.00 to $16.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the medical equipment provider's stock.

Several other research analysts have also recently weighed in on NVRO. StockNews.com raised shares of Nevro from a sell rating to a hold rating in a report on Friday, March 1st. Canaccord Genuity Group reissued a hold rating and set a $23.00 price objective on shares of Nevro in a report on Thursday, December 21st. Royal Bank of Canada cut shares of Nevro from an outperform rating to a sector perform rating and reduced their target price for the company from $23.00 to $20.00 in a report on Friday, January 12th. Canaccord Genuity Group cut shares of Nevro from a buy rating to a hold rating and set a $23.00 price objective for the company. in a research note on Thursday, December 21st. Finally, Robert W. Baird dropped their target price on shares of Nevro from $23.00 to $19.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $22.85.

Nevro Trading Up 2.5 %

Shares of NVRO stock traded up $0.31 during mid-day trading on Wednesday, reaching $13.05. The stock had a trading volume of 488,674 shares, compared to its average volume of 492,117. The stock's 50-day moving average price is $15.45 and its two-hundred day moving average price is $17.31. Nevro has a 52-week low of $12.34 and a 52-week high of $39.67. The firm has a market capitalization of $474.84 million, a PE ratio of -5.08 and a beta of 0.89. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72.

Nevro (NYSE:NVRO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.35. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The company had revenue of $116.18 million for the quarter, compared to analysts' expectations of $115.93 million. Equities analysts expect that Nevro will post -2.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nevro

Large investors have recently modified their holdings of the business. Quarry LP grew its holdings in shares of Nevro by 174.3% in the second quarter. Quarry LP now owns 1,012 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 643 shares during the period. UBS Group AG grew its holdings in shares of Nevro by 206.3% in the fourth quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider's stock valued at $48,000 after purchasing an additional 821 shares during the period. Tower Research Capital LLC TRC boosted its stake in Nevro by 26.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider's stock worth $61,000 after buying an additional 668 shares during the period. Assetmark Inc. boosted its stake in Nevro by 30.4% during the fourth quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider's stock worth $67,000 after buying an additional 730 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in Nevro during the third quarter worth about $132,000. Hedge funds and other institutional investors own 95.52% of the company's stock.

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.