Truist Financial Has Lowered Expectations for Nevro (NYSE:NVRO) Stock Price

Nevro (NYSE:NVRO) had its price target decreased by research analysts at Truist Financial from $7.00 to $4.70 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the medical equipment provider’s stock. Truist Financial’s target price suggests a potential upside of 18.09% from the company’s current price.

Several other analysts have also weighed in on NVRO. Canaccord Genuity Group decreased their target price on shares of Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, December 9th. Morgan Stanley downgraded Nevro from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Citigroup cut their price objective on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Robert W. Baird upped their target price on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.97.

Nevro Stock Performance

NVRO traded down $0.07 during trading on Wednesday, hitting $3.98. The stock had a trading volume of 40,841 shares, compared to its average volume of 558,943. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. Nevro has a 12 month low of $3.92 and a 12 month high of $22.52. The company has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $6.39. The firm has a market cap of $149.14 million, a PE ratio of -2.11 and a beta of 0.84.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVRO. Western Standard LLC acquired a new position in Nevro in the third quarter valued at approximately $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Nevro by 130.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after purchasing an additional 566,462 shares during the period. Engaged Capital LLC boosted its position in shares of Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after purchasing an additional 557,000 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Nevro by 50.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock valued at $4,096,000 after purchasing an additional 246,979 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Nevro by 27.6% in the third quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock valued at $5,195,000 after buying an additional 200,885 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.