Nevro (NYSE:NVRO) PT Lowered to $11.00

Nevro (NYSE:NVRO) had its price objective cut by Canaccord Genuity Group from $17.00 to $11.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird decreased their price target on Nevro from $23.00 to $19.00 and set a neutral rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company decreased their price objective on shares of Nevro from $14.00 to $13.00 and set an equal weight rating for the company in a research report on Wednesday. StockNews.com raised shares of Nevro from a sell rating to a hold rating in a research report on Friday, March 1st. Citigroup decreased their price target on shares of Nevro from $18.00 to $16.00 and set a neutral rating for the company in a report on Wednesday, April 3rd. Finally, Mizuho lowered their price objective on shares of Nevro from $20.00 to $16.00 and set a neutral rating for the company in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Nevro presently has an average rating of Hold and a consensus price target of $20.00.

Nevro Stock Up 3.5 %

Shares of NYSE:NVRO traded up $0.36 during trading on Wednesday, reaching $10.52. The stock had a trading volume of 586,707 shares, compared to its average volume of 506,214. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $385.88 million, a P/E ratio of -3.96 and a beta of 0.96. The firm’s 50-day simple moving average is $13.12 and its 200 day simple moving average is $16.23. Nevro has a one year low of $10.02 and a one year high of $28.89.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.32. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The business had revenue of $101.90 million for the quarter, compared to analyst estimates of $97.90 million. During the same period in the previous year, the company earned ($0.98) earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts expect that Nevro will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Nevro

A number of hedge funds and other institutional investors have recently made changes to their positions in NVRO. Assetmark Inc. lifted its stake in shares of Nevro by 30.4% in the 4th quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock valued at $67,000 after purchasing an additional 730 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after buying an additional 1,430 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Nevro by 83.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,970 shares of the medical equipment provider’s stock worth $192,000 after acquiring an additional 4,547 shares during the period. Versor Investments LP boosted its stake in shares of Nevro by 22.9% during the 3rd quarter. Versor Investments LP now owns 11,017 shares of the medical equipment provider’s stock worth $212,000 after acquiring an additional 2,050 shares in the last quarter. Finally, Natixis Advisors L.P. acquired a new stake in shares of Nevro during the 3rd quarter valued at about $248,000. Institutional investors and hedge funds 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.