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

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

Several other brokerages have also recently commented on NVRO. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Morgan Stanley decreased their price objective on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Citigroup cut their target price on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $5.50 in a research report on Wednesday, August 7th. Finally, Truist Financial dropped their price target on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.10.

Nevro Price Performance

NYSE NVRO opened at $5.06 on Tuesday. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64. The business’s fifty day moving average is $5.24 and its two-hundred day moving average is $7.48. The stock has a market capitalization of $188.64 million, a P/E ratio of -2.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77.

Nevro (NYSE:NVRO) last announced its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.35% and a negative net margin of 16.54%. The company had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. During the same period in the previous year, the firm earned ($0.65) earnings per share. Nevro’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, research analysts forecast that Nevro will post -2.6 earnings per share for the current fiscal year.

Institutional Trading of Nevro

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in shares of Nevro by 189.3% in the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock valued at $745,000 after purchasing an additional 33,760 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Nevro by 45.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock worth $444,000 after acquiring an additional 9,586 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Nevro by 14.1% during the 1st 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 acquiring an additional 1,430 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Nevro by 35.8% in the 1st quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock valued at $753,000 after acquiring an additional 13,750 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Nevro by 48.2% in the 1st quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider’s stock valued at $1,369,000 after acquiring an additional 30,863 shares in 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.