Nevro (NYSE:NVRO) Price Target Raised to $6.00 at Robert W. Baird

Nevro (NYSE:NVRO) had its price objective lifted by Robert W. Baird from $5.00 to $6.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 34.83% from the company’s previous close.

A number of other analysts have also weighed in on NVRO. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Wolfe Research raised shares of Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.10.

Nevro Price Performance

NVRO opened at $4.45 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. The stock’s 50 day simple moving average is $5.23 and its 200 day simple moving average is $7.44. The firm has a market cap of $165.91 million, a price-to-earnings ratio of -2.35 and a beta of 0.93. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64.

Nevro (NYSE:NVRO) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (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 23.35%. The firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. During the same quarter last year, the business earned ($0.65) earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. As a group, analysts predict that Nevro will post -2.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVRO. Armistice Capital LLC lifted its stake in Nevro by 1.3% during the 2nd quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock valued at $30,918,000 after acquiring an additional 48,000 shares during the period. Millennium Management LLC boosted its holdings in Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after purchasing an additional 168,573 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Nevro by 27.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock worth $5,195,000 after purchasing an additional 200,885 shares during the period. Renaissance Technologies LLC raised its stake in Nevro by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider’s stock valued at $3,099,000 after buying an additional 17,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Nevro by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock worth $1,698,000 after buying an additional 11,369 shares during the last quarter. 95.52% of the stock is owned by institutional investors.

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.