A share of Nevro Corp. (NYSE:NVRO) closed at $45.46 per share on Thursday, down from $47.42 day before. While Nevro Corp. has underperformed by -4.13%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NVRO fell by -69.26%, with highs and lows ranging from $152.09 to $39.41, whereas the simple moving average fell by -35.24% in the last 200 days.
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On May 05, 2022, Citigroup Upgraded Nevro Corp. (NYSE: NVRO) to Buy. Wolfe Research also rated NVRO shares as ‘Underperform’, setting a target price of $64 on the company’s shares in an initiating report dated April 06, 2022. BofA Securities Initiated an Underperform rating on March 02, 2022, and assigned a price target of $70. Morgan Stanley January 07, 2022d its ‘Overweight’ rating to ‘Equal-Weight’ for NVRO, as published in its report on January 07, 2022. Wells Fargo’s report from December 06, 2021 suggests a price prediction of $116 for NVRO shares, giving the stock a ‘Overweight’ rating. Truist also rated the stock as ‘Hold’.
Analysis of Nevro Corp. (NVRO)
Further, the quarter-over-quarter decrease in sales is -0.90%, showing a negative trend in the upcoming months.
Nevro Corp.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -44.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and NVRO is registering an average volume of 541.27K. On a monthly basis, the volatility of the stock is set at 4.89%, whereas on a weekly basis, it is put at 6.18%, with a gain of 1.47% over the past seven days. Furthermore, long-term investors anticipate a median target price of $66.33, showing growth from the present price of $45.46, which can serve as yet another indication of whether NVRO is worth investing in or should be passed over.
How Do You Analyze Nevro Corp. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.60%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in NVRO shares?
The recent increase in stakes in NVRO appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in NVRO has increased by 12.66% in the first quarter. The company now owns 3,560,796 shares of the stock, with a value of $156.07 million, following the purchase of 400,125 additional shares during the last quarter. T. Rowe Price Associates, Inc. made another increased to its shares in NVRO during the first quarter, upping its stake by 32.84%. During the last quarter, the company picked up 764,728 additional shares for a total stake of worth $135.58 million, bringing number of shares owned by the company to 3,093,259.
During the first quarter, BlackRock Fund Advisors added a 43,230 position in NVRO. Wellington Management Co. LLP purchased an additional 0.29 million shares in the last quarter, increasing its holdings by 19.08%, now holding 1.8 million shares worth $78.77 million. At the end of the first quarter, Fidelity Management & Research Co increased its NVRO holdings by 67.91% and now holds 1.43 million NVRO shares valued at $62.89 million with the added 0.58 million shares during the period.