Robert W. Baird Issues Positive Forecast for Nevro (NYSE:NVRO) Stock Price

Nevro (NYSE:NVRO) had its price objective lifted by Robert W. Baird from $5.00 to $6.00 in a report published on Tuesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the medical equipment provider’s stock.

NVRO has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Royal Bank of Canada cut their price objective on Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler decreased their target price on Nevro from $12.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Finally, JMP Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.10.

Nevro Trading Up 11.1 %

Shares of Nevro stock opened at $4.52 on Tuesday. The company has a market capitalization of $169.36 million, a P/E ratio of -2.39 and a beta of 0.93. The stock has a fifty day simple moving average of $5.18 and a 200 day simple moving average of $7.39. The company has a current ratio of 5.02, a quick ratio of 3.53 and a debt-to-equity ratio of 0.67. Nevro has a 12-month low of $3.95 and a 12-month high of $22.64.

Nevro (NYSE:NVRO) last posted 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 net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. During the same quarter in the prior year, the firm posted ($0.65) EPS. Nevro’s revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Nevro will post -2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC increased its stake in Nevro by 2.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock valued at $24,547,000 after purchasing an additional 102,150 shares in the last quarter. Armistice Capital LLC increased its position in shares of Nevro by 1.3% during the second 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 in the last quarter. Engaged Capital LLC raised its holdings in 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 acquiring an additional 557,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $5,590,000 after acquiring an additional 566,462 shares during the last quarter. Finally, Western Standard LLC bought a new position in Nevro in the 3rd quarter valued at approximately $5,473,000. 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.