Weekly Research Analysts’ Ratings Changes for Nevro (NVRO)

Several brokerages have updated their recommendations and price targets on shares of Nevro (NYSE: NVRO) in the last few weeks:

• 11/19/2024 – Nevro was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/12/2024 – Nevro had its price target lowered by analysts at Piper Sandler from $7.00 to $6.00. They now have an “underweight” rating on the stock.
• 11/12/2024 – Nevro had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $7.00 price target on the stock.
• 11/12/2024 – Nevro had its price target raised by analysts at Robert W. Baird from $5.00 to $6.00. They now have a “neutral” rating on the stock.
• 11/12/2024 – Nevro had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 11/12/2024 – Nevro had its price target lowered by analysts at Canaccord Genuity Group Inc. from $8.00 to $7.00. They now have a “hold” rating on the stock.
• 11/9/2024 – Nevro was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/1/2024 – Nevro was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/24/2024 – Nevro was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/16/2024 – Nevro was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/1/2024 – Nevro had its price target lowered by analysts at Citigroup Inc. from $6.89 to $6.00. They now have a “neutral” rating on the stock.
• 9/30/2024 – Nevro was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Nevro Price Performance

Shares of NVRO stock traded up $0.02 during midday trading on Friday, reaching $4.60. 158,227 shares of the company were exchanged, compared to its average volume of 568,130. The company’s 50 day moving average price is $5.00 and its two-hundred day moving average price is $6.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The company has a market cap of $172.36 million, a P/E ratio of -2.43 and a beta of 0.93. Nevro Corp. has a 12 month low of $3.95 and a 12 month high of $22.64.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. During the same period in the previous year, the business earned ($0.65) earnings per share. Nevro’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, sell-side analysts expect that Nevro Corp. will post -2.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NVRO. Nisa Investment Advisors LLC boosted its holdings in shares of Nevro by 1,788.8% during the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares during the period. Virtu Financial LLC acquired a new stake in shares of Nevro during the 3rd quarter valued at $63,000. Intech Investment Management LLC acquired a new position in shares of Nevro in the third quarter worth $69,000. SG Americas Securities LLC acquired a new position in shares of Nevro in the third quarter worth $71,000. Finally, Quantbot Technologies LP raised its holdings in shares of Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after acquiring an additional 13,381 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.