Nevro (NYSE:NVRO) Price Target Increased to $115.00 by Analysts at JMP Securities

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Nevro (NYSE:NVRO) had its price target upped by JMP Securities to $115.00 in a research report released on Thursday, The Fly reports. They currently have an outperform rating on the medical equipment provider’s stock.

NVRO has been the subject of a number of other reports. Canaccord Genuity boosted their target price 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. Leerink Swann set a $98.00 target price on shares of Nevro and gave the company a buy rating in a research note on Friday, August 23rd. Wells Fargo & Co boosted their target price on shares of Nevro from $70.00 to $86.00 and gave the company an outperform rating in a research note on Wednesday, October 9th. Morgan Stanley set a $76.00 target price on shares of Nevro and gave the company a buy rating in a research note on Friday, August 9th. Finally, ValuEngine lowered shares of Nevro from a buy rating to a hold rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $86.83.

NYSE NVRO traded up $2.21 on Thursday, hitting $105.59. 798,622 shares of the stock were exchanged, compared to its average volume of 519,500. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.66 and a current ratio of 6.05. The stock has a fifty day moving average price of $85.49 and a two-hundred day moving average price of $72.60. The firm has a market capitalization of $2.69 billion, a P/E ratio of -64.38 and a beta of 0.21. Nevro has a 52-week low of $34.75 and a 52-week high of $108.20.

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

In related news, VP Doug Alleavitch sold 1,000 shares of Nevro stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Nevro by 91.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,078,635 shares of the medical equipment provider’s stock valued at $199,588,000 after acquiring an additional 1,470,807 shares in the last quarter. Vanguard Group Inc. raised its holdings in Nevro by 4.0% in the second quarter. Vanguard Group Inc. now owns 2,670,677 shares of the medical equipment provider’s stock worth $173,140,000 after purchasing an additional 102,183 shares in the last quarter. BlackRock Inc. raised its holdings in Nevro by 1.2% in the second quarter. BlackRock Inc. now owns 2,583,530 shares of the medical equipment provider’s stock worth $167,491,000 after purchasing an additional 29,637 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Nevro by 11.7% in 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 in the last quarter. Finally, Invesco Ltd. raised its holdings in Nevro by 316.2% in 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 in 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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The Fly

Analyst Recommendations for Nevro (NYSE:NVRO)

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