BidaskClub upgraded shares of Nevro Corp. (NYSE:NVRO) from a sell rating to a hold rating in a research note published on Saturday, October 7th.
A number of other brokerages also recently issued reports on NVRO. Northland Securities reaffirmed a buy rating and set a $96.00 price target on shares of Nevro Corp. in a report on Tuesday, August 8th. BMO Capital Markets reissued a buy rating and issued a $106.00 price objective on shares of Nevro Corp. in a report on Friday, September 1st. Zacks Investment Research raised shares of Nevro Corp. from a strong sell rating to a buy rating and set a $96.00 price objective on the stock in a report on Wednesday, August 2nd. Morgan Stanley raised their price objective on shares of Nevro Corp. from $87.00 to $95.00 and gave the stock an overweight rating in a report on Tuesday, August 8th. Finally, J P Morgan Chase & Co restated an overweight rating and set a $102.00 target price on shares of Nevro Corp. in a research note on Monday, July 3rd. Two 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 has an average rating of Hold and an average price target of $101.25.
Shares of Nevro Corp. (NYSE NVRO) opened at 91.10 on Friday. Nevro Corp. has a 52-week low of $65.82 and a 52-week high of $102.26. The company’s 50-day moving average price is $89.40 and its 200-day moving average price is $83.75. The firm’s market capitalization is $2.68 billion.
Nevro Corp. (NYSE:NVRO) last announced its quarterly earnings data on Monday, August 7th. The medical equipment provider reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.11). The firm had revenue of $78.02 million for the quarter, compared to analysts’ expectations of $77.75 million. Nevro Corp. had a negative net margin of 14.33% and a negative return on equity of 16.25%. The business’s revenue for the quarter was up 40.8% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share. On average, equities research analysts expect that Nevro Corp. will post ($1.16) EPS for the current fiscal year.
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In other news, Director Michael F. Demane sold 5,000 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $93.50, for a total transaction of $467,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilfred E. Jaeger sold 79,657 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $82.74, for a total transaction of $6,590,820.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,907 shares of company stock valued at $24,670,065. 12.10% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in NVRO. BlackRock Inc. raised its holdings in Nevro Corp. by 76,628.7% in the first quarter. BlackRock Inc. now owns 1,575,240 shares of the medical equipment provider’s stock worth $147,602,000 after purchasing an additional 1,573,187 shares in the last quarter. Janus Henderson Group PLC bought a new position in Nevro Corp. in the second quarter worth about $105,837,000. Jennison Associates LLC raised its holdings in Nevro Corp. by 67.5% in the second quarter. Jennison Associates LLC now owns 1,139,119 shares of the medical equipment provider’s stock worth $84,785,000 after purchasing an additional 458,925 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Nevro Corp. by 63.6% in the second quarter. Wells Fargo & Company MN now owns 973,783 shares of the medical equipment provider’s stock worth $72,478,000 after purchasing an additional 378,422 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Nevro Corp. in the second quarter worth about $18,916,000.
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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