Nevro (NYSE:NVRO) Given New $105.00 Price Target at Wells Fargo & Co

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Nevro (NYSE:NVRO) had its price objective increased by Wells Fargo & Co from $86.00 to $105.00 in a research report sent to investors on Thursday, The Fly reports. Wells Fargo & Co currently has an outperform rating on the medical equipment provider’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Nevro from a sell rating to a hold rating and set a $67.00 price target for the company in a research note on Tuesday, August 13th. Canaccord Genuity lifted their price target on shares of Nevro from $50.00 to $59.00 and gave the company a hold rating in a research note on Friday, August 9th. Morgan Stanley set a $76.00 price target on shares of Nevro and gave the company a buy rating in a research note on Friday, August 9th. Oppenheimer started coverage on shares of Nevro in a research note on Tuesday, October 22nd. They issued a market perform rating for the company. Finally, Leerink Swann set a $98.00 price target on shares of Nevro and gave the company a buy rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Nevro presently has an average rating of Hold and a consensus price target of $86.83.

NVRO traded up $2.21 during midday trading on Thursday, hitting $105.59. The company had a trading volume of 798,622 shares, compared to its average volume of 519,500. Nevro has a 52 week low of $34.75 and a 52 week high of $108.20. The company has a quick ratio of 4.66, a current ratio of 6.05 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -64.38 and a beta of 0.21. The stock’s 50 day moving average price is $85.49 and its 200 day moving average price is $72.60.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.27. Nevro had a negative net margin of 24.51% and a negative return on equity of 41.07%. The firm had revenue of $100.16 million during the quarter, compared to the consensus estimate of $92.27 million. During the same period in the previous year, the firm posted ($0.37) earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Nevro will post -3.99 EPS for the current year.

In other news, VP Doug Alleavitch sold 1,000 shares of Nevro stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. boosted its holdings in Nevro by 316.2% during the second quarter. Invesco Ltd. now owns 1,970,969 shares of the medical equipment provider’s stock worth $127,778,000 after purchasing an additional 1,497,455 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Nevro by 91.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,078,635 shares of the medical equipment provider’s stock worth $199,588,000 after purchasing an additional 1,470,807 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in Nevro by 172.9% during the second quarter. Perceptive Advisors LLC now owns 1,137,765 shares of the medical equipment provider’s stock worth $73,761,000 after purchasing an additional 720,816 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Nevro during the second quarter worth about $26,818,000. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Nevro by 11.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,067,400 shares of the medical equipment provider’s stock worth $134,029,000 after purchasing an additional 216,680 shares during the last quarter.

Nevro Company Profile

Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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