Leerink Swann Reaffirms “Outperform” Rating for Nevro Corp. (NYSE:NVRO)

Nevro Corp. (NYSE:NVRO)‘s stock had its “outperform” rating restated by analysts at Leerink Swann in a research note issued to investors on Tuesday, November 7th. They currently have a $110.00 target price on the medical equipment provider’s stock, up from their prior target price of $105.00. Leerink Swann’s price target points to a potential upside of 40.92% from the stock’s current price.

NVRO has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Nevro Corp. from a “strong sell” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Wednesday, August 2nd. Northland Securities restated a “buy” rating and issued a $96.00 price objective on shares of Nevro Corp. in a research report on Tuesday, August 8th. BidaskClub cut shares of Nevro Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. BMO Capital Markets restated a “buy” rating and issued a $106.00 price objective on shares of Nevro Corp. in a research report on Friday, September 1st. Finally, Canaccord Genuity restated a “buy” rating and issued a $120.00 price objective on shares of Nevro Corp. in a research report on Sunday, October 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.00.

Nevro Corp. (NYSE NVRO) traded up $1.23 during trading hours on Tuesday, hitting $78.06. 387,371 shares of the stock were exchanged, compared to its average volume of 511,112. The company has a quick ratio of 6.81, a current ratio of 8.78 and a debt-to-equity ratio of 0.59. Nevro Corp. has a one year low of $65.82 and a one year high of $99.63.

Nevro Corp. (NYSE:NVRO) last announced its earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The business had revenue of $82.26 million during the quarter, compared to analysts’ expectations of $80.50 million. Nevro Corp. had a negative net margin of 14.09% and a negative return on equity of 17.27%. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.14) EPS. equities research analysts expect that Nevro Corp. will post -1.27 EPS for the current year.

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In other Nevro Corp. news, CFO Andrew H. Galligan sold 7,000 shares of Nevro Corp. stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $75.11, for a total value of $525,770.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael F. Demane sold 25,000 shares of Nevro Corp. stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $87.73, for a total transaction of $2,193,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 115,987 shares of company stock worth $10,099,176 in the last three months. 9.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its holdings in shares of Nevro Corp. by 17.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,432 shares of the medical equipment provider’s stock valued at $181,000 after purchasing an additional 358 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Nevro Corp. in the second quarter valued at approximately $190,000. US Bancorp DE raised its holdings in shares of Nevro Corp. by 412.4% in the second quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 2,099 shares during the last quarter. Inspirion Wealth Advisors LLC acquired a new stake in shares of Nevro Corp. in the second quarter valued at approximately $205,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Nevro Corp. in the third quarter valued at approximately $211,000.

Nevro Corp. Company Profile

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.

Analyst Recommendations for Nevro Corp. (NYSE:NVRO)

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