It is with great interest that we turn our attention to Nevro Corp. (NYSE:NVRO), a medical device company specialized in developing and selling neuromodulation technologies for the treatment of chronic pain. According to Bloomberg Ratings reports released on April 28, 2023, Nevro Corp. has earned a consensus rating of “Hold” from the twelve research firms currently covering the company.
Although the average twelve-month price target among analysts that have issued a report on the stock in the last year is $47.50, there is considerable disparity among these ratings. One equities research analyst rates the stock as a “Sell,” eight others assign a “Hold” rating, while two have given it a “Buy” rating.
Such conflicting assessments can be expected when examining a company whose activities lie at the intersection of cutting-edge technology and healthcare practice. Indeed, science-driven solutions aimed at alleviating chronic pain are an ever-evolving field where new challenges frequently arise.
On its website, Nevro Corp. outlines its mission to provide transformative treatments using proprietary technology that addresses both sensory and motor components of pain through spinal cord stimulation (SCS) therapy targeting different pain pathways in patients. The company’s efforts focus on providing solutions to individuals who tend to be less responsive to traditional therapies.
Nevro Corp.’s dedication to innovation has led it to develop several groundbreaking devices used in SCS procedures, such as Senza System, which notably delivers high-frequency stimulation rather than conventional low-frequency stimulation techniques.
The medical device industry faces inherent risks linked to product development and regulatory approval processes, significant competition and pricing pressure from healthcare systems across markets worldwide; this includes but not limited insurance reimbursement policies. Still, experts believe Nevro Corp.’s extensive experience ensures long-term growth opportunities withstanding any existing threats.
In summary, despite some diverging viewpoints concerning Nevro Corp.’s current outlook’s evaluation, experts’ global consensus suggests a “Hold” rating. As such, the medical device company’s mission and the SCS therapy industry’s current landscape are bound to create new opportunities that investors might want to watch closely in upcoming years.
Debate Surrounds Nevro: Conflicting Analyst Ratings on Medical Equipment Provider
Nevro, a medical equipment provider, has recently been the subject of much debate among equities research analysts. While some have given the company positive reviews, others have expressed concerns. On Thursday, March 16th, StockNews.com issued a “hold” rating for Nevro. Wells Fargo & Company has also dropped their target price for Nevro from $43.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 11th.
Meanwhile, Citigroup downgraded shares of Nevro from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock in a report released on Tuesday, January 17th. However, Canaccord Genuity Group believes that now may be the time to buy Nevro’s stock – upping their price objective from $67.00 to $72.00 and giving the company a “buy” rating in their report released on Monday, February 6th.
Finally, Morgan Stanley has dropped their price objective on shares of Nevro from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report released on Friday, January 6th.
Institutional investors appear more optimistic about Nevro’s future prospects than some of these analysts are suggesting. Norges Bank has acquired a new stake in Nevro worth $50,205,000 during Q4-2022 alone while Millennium Management LLC increased its position in Nevro by 226% during this period with BlackRock Inc also growing its stake by 13%.
Overall however nearly all reporting hedge funds mentioned owned greater then %1 percent prompting interest and curiosity into why differing analyses arose at all despite widespread ownership among firms within this sector who invest heavily into healthcare technology developments companies such as these present potentially huge future upside for investors who recognize new and innovative ways technology is providing solutions which can make significant contributions to the medical care sector.