Nevro (NYSE:NVRO) PT Lowered to $16.00

Nevro (NYSE:NVRO - Get Free Report) had its target price dropped by analysts at Mizuho from $20.00 to $16.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the medical equipment provider's stock. Mizuho's target price points to a potential upside of 21.95% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group lowered shares of Nevro from a "buy" rating to a "hold" rating and set a $23.00 price objective for the company. in a report on Thursday, December 21st. Canaccord Genuity Group reiterated a "hold" rating and issued a $23.00 price target on shares of Nevro in a report on Thursday, December 21st. Wells Fargo & Company dropped their price objective on shares of Nevro from $17.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday. Oppenheimer cut Nevro from an "outperform" rating to a "market perform" rating in a report on Thursday, February 22nd. Finally, Truist Financial increased their price target on Nevro from $22.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $21.54.

Nevro Price Performance

Shares of NVRO stock traded down $0.16 on Thursday, hitting $13.12. 287,809 shares of the stock traded hands, compared to its average volume of 478,676. The firm has a market cap of $477.54 million, a price-to-earnings ratio of -5.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94. The firm has a 50 day simple moving average of $14.96 and a two-hundred day simple moving average of $17.06. Nevro has a 52 week low of $12.34 and a 52 week high of $39.67.

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

Hedge Funds Weigh In On Nevro

Several large investors have recently modified their holdings of NVRO. Palo Alto Investors LP grew its holdings in Nevro by 107.7% during the 3rd quarter. Palo Alto Investors LP now owns 386,832 shares of the medical equipment provider's stock valued at $7,435,000 after purchasing an additional 200,573 shares during the last quarter. Swiss National Bank raised its holdings in shares of Nevro by 1.3% in the third quarter. Swiss National Bank now owns 78,800 shares of the medical equipment provider's stock worth $1,515,000 after buying an additional 1,000 shares during the period. Walleye Capital LLC lifted its stake in shares of Nevro by 301.4% during the 3rd quarter. Walleye Capital LLC now owns 118,764 shares of the medical equipment provider's stock worth $2,283,000 after acquiring an additional 89,179 shares during the last quarter. UBS Group AG lifted its stake in shares of Nevro by 19,354.5% during the 3rd quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider's stock worth $17,361,000 after acquiring an additional 898,629 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new position in Nevro during the 3rd quarter valued at $248,000. 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.