Nevro (NYSE:NVRO) Given New $11.00 Price Target at Canaccord Genuity Group

Nevro (NYSE:NVRO) had its price target trimmed by Canaccord Genuity Group from $17.00 to $11.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company cut their price target on Nevro from $14.00 to $13.00 and set an equal weight rating on the stock in a report on Wednesday. Citigroup reduced 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. Robert W. Baird dropped their price objective on shares of Nevro from $23.00 to $19.00 and set a neutral rating on the stock in a report on Thursday, February 22nd. Royal Bank of Canada cut their price objective on shares of Nevro from $18.00 to $16.00 and set a sector perform rating on the stock in a research report on Monday, April 15th. Finally, Mizuho decreased their target price on Nevro from $20.00 to $16.00 and set a neutral rating for the company in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Nevro has a consensus rating of Hold and a consensus target price of $20.00.

Nevro Trading Up 3.5 %

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

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

Institutional Trading of Nevro

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