Brokerages Set Nevro Corp (NVRO) PT at $59.36

Nevro Corp (NYSE:NVRO) has earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $59.36.

Several research firms recently commented on NVRO. Zacks Investment Research raised Nevro from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 14th. ValuEngine raised Nevro from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Wells Fargo & Co reduced their price objective on Nevro from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Canaccord Genuity downgraded Nevro from a “buy” rating to a “hold” rating and reduced their price objective for the company from $62.00 to $50.00 in a research note on Friday, May 10th. Finally, JMP Securities reduced their price objective on Nevro from $80.00 to $70.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th.

Shares of NYSE:NVRO opened at $60.60 on Monday. Nevro has a 1 year low of $34.75 and a 1 year high of $86.75. The company has a market cap of $1.85 billion, a PE ratio of -36.95 and a beta of 0.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 4.87 and a current ratio of 6.30.

Nevro (NYSE:NVRO) last announced its earnings results on Thursday, May 9th. The medical equipment provider reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.79). Nevro had a negative net margin of 19.79% and a negative return on equity of 31.84%. The business had revenue of $82.10 million for the quarter, compared to analysts’ expectations of $87.47 million. During the same quarter last year, the business earned ($0.59) EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that Nevro will post -3.83 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its stake in shares of Nevro by 46.0% in the 4th quarter. Rhumbline Advisers now owns 39,058 shares of the medical equipment provider’s stock worth $1,519,000 after acquiring an additional 12,301 shares during the last quarter. Partner Fund Management L.P. acquired a new stake in shares of Nevro in the 4th quarter worth $21,627,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Nevro in the 4th quarter worth $113,000. Gabelli Funds LLC increased its stake in shares of Nevro by 8.2% in the 4th quarter. Gabelli Funds LLC now owns 157,500 shares of the medical equipment provider’s stock worth $6,125,000 after acquiring an additional 12,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Nevro by 225.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,316,090 shares of the medical equipment provider’s stock worth $51,183,000 after acquiring an additional 911,332 shares during the last quarter.

About Nevro

Nevro Corp., a medical device company, provides products for the 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.

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Analyst Recommendations for Nevro (NYSE:NVRO)

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