Fintel reports that on July 19, 2023, Baird initiated coverage of Nevro (NYSE:NVRO) with a Neutral recommendation.
Analyst Price Forecast Suggests 66.73% Upside
As of July 6, 2023, the average one-year price target for Nevro is 38.61. The forecasts range from a low of 24.24 to a high of $78.75. The average price target represents an increase of 66.73% from its latest reported closing price of 23.16.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nevro is 460MM, an increase of 10.96%. The projected annual non-GAAP EPS is -2.06.
What is the Fund Sentiment?
There are 409 funds or institutions reporting positions in Nevro. This is a decrease of 21 owner(s) or 4.88% in the last quarter. Average portfolio weight of all funds dedicated to NVRO is 0.11%, a decrease of 12.39%. Total shares owned by institutions decreased in the last three months by 11.44% to 38,455K shares. 
The put/call ratio of NVRO is 0.67, indicating a bullish outlook.
What are Other Shareholders Doing?
FSMEX - Medical Technology and Devices Portfolio holds 2,000K shares representing 5.58% ownership of the company. In it's prior filing, the firm reported owning 2,080K shares, representing a decrease of 4.00%. The firm decreased its portfolio allocation in NVRO by 32.58% over the last quarter.
Braidwell holds 1,633K shares representing 4.56% ownership of the company. In it's prior filing, the firm reported owning 1,192K shares, representing an increase of 26.98%. The firm increased its portfolio allocation in NVRO by 23.05% over the last quarter.
ArrowMark Colorado Holdings holds 1,332K shares representing 3.72% ownership of the company. In it's prior filing, the firm reported owning 1,252K shares, representing an increase of 5.97%. The firm decreased its portfolio allocation in NVRO by 7.58% over the last quarter.
Fred Alger Management holds 1,174K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 1,184K shares, representing a decrease of 0.83%. The firm decreased its portfolio allocation in NVRO by 16.07% over the last quarter.
Rock Springs Capital Management holds 1,078K shares representing 3.01% ownership of the company. No change in the last quarter.
Nevro Background Information
(This description is provided by the company.)
Headquartered in Redwood City, California, Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. Nevro has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based, non-pharmacologic neuromodulation platform for the treatment of chronic pain. HF10 therapy has demonstrated the ability to reduce or eliminate opioids in =65% of patients across six peer-reviewed clinical studies. The Senza® System, Senza II™ System, and the Senza® Omnia™ System are the only SCS systems that deliver Nevro's proprietary HF10® therapy. Senza, Senza II, Senza Omnia, HF10, Nevro and the Nevro logo are trademarks of Nevro Corp.
Additional reading:
- Nevro Reports First Quarter 2023 Financial Results, Provides Second Quarter Guidance and Reiterates Full-Year 2023 Guidance
- Nevro Corp. 2023 Employment Inducement Award Plan
- Nevro Names Kevin Thornal as New Chief Executive Officer and President D. Keith Grossman to be Appointed as Executive Chairman Company Announces Preliminary, Unaudited Worldwide Revenue for First Quarter of 2023 of $96.3 Million and Reaffirms Full-Ye
- List of Subsidiaries.
- Nevro Announces Fourth Quarter and Full-Year 2022 Financial Results and Provides First Quarter and Complete Full-Year 2023 Guidance
This story originally appeared on Fintel.
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