Northland Securities reaffirmed their buy rating on shares of Nevro Corp. (NYSE:NVRO) in a research report sent to investors on Tuesday morning. The brokerage currently has a $96.00 price objective on the medical equipment provider’s stock.
Several other brokerages have also commented on NVRO. BidaskClub lowered shares of Nevro Corp. from a hold rating to a sell rating in a research report on Friday, July 28th. B. Riley lowered shares of Nevro Corp. from a buy rating to a neutral rating and dropped their price target for the stock from $108.00 to $85.00 in a research report on Tuesday, May 9th. Zacks Investment Research raised shares of Nevro Corp. from a strong sell rating to a buy rating and set a $96.00 price target for the company in a research report on Wednesday, August 2nd. Morgan Stanley upped their price target on shares of Nevro Corp. from $87.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and set a $102.00 price target on shares of Nevro Corp. in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Nevro Corp. presently has an average rating of Hold and a consensus target price of $100.57.
Nevro Corp. (NYSE:NVRO) traded up 1.27% during midday trading on Tuesday, hitting $81.90. 303,020 shares of the stock traded hands. The company’s market cap is $2.41 billion. Nevro Corp. has a one year low of $65.82 and a one year high of $106.93. The company’s 50 day moving average is $82.27 and its 200-day moving average is $85.24.
Nevro Corp. (NYSE:NVRO) last issued its quarterly earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.11. Nevro Corp. had a negative return on equity of 16.25% and a negative net margin of 14.33%. The company had revenue of $78.02 million for the quarter, compared to analyst estimates of $77.75 million. During the same period last year, the company posted ($0.31) EPS. The business’s revenue for the quarter was up 40.8% on a year-over-year basis. On average, equities research analysts forecast that Nevro Corp. will post ($1.17) EPS for the current fiscal year.
In other news, CFO Andrew H. Galligan sold 7,500 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $75.30, for a total value of $564,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.10% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in NVRO. Thrivent Financial For Lutherans raised its stake in Nevro Corp. by 4.1% in the first quarter. Thrivent Financial For Lutherans now owns 200,230 shares of the medical equipment provider’s stock valued at $18,762,000 after buying an additional 7,960 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Nevro Corp. during the first quarter valued at about $1,040,000. Gotham Asset Management LLC acquired a new stake in Nevro Corp. during the first quarter valued at about $931,000. OppenheimerFunds Inc. raised its stake in Nevro Corp. by 28.5% in the first quarter. OppenheimerFunds Inc. now owns 770,708 shares of the medical equipment provider’s stock valued at $72,215,000 after buying an additional 170,708 shares during the last quarter. Finally, Norges Bank acquired a new stake in Nevro Corp. during the fourth quarter valued at about $750,000.
About Nevro Corp.
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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