Nevro Corp (NVRO) Downgraded by Zacks Investment Research
Nevro Corp (NASDAQ:NVRO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Nevro Corp. is a medical device company. It engages in developing and commercializing a neuromodulation platform for the treatment of chronic pain. The Company provides pain relief to the customers suffering from low back pain and types of chronic pains. Nevro has developed and commercialized the Senza (R) spinal cord stimulation (SCS) system for the treatment of chronic pain. Senza, HF10, Nevro and the Nevro logo are trademarks of the company. Nevro Corp. is headquartered in Menlo Park, California. “
Other equities analysts have also issued research reports about the company. B. Riley started coverage on Nevro Corp in a research note on Wednesday, September 21st. They set a “buy” rating and a $114.00 price objective for the company. BMO Capital Markets restated a “buy” rating and issued a $100.00 price target on shares of Nevro Corp in a research note on Tuesday, August 9th. Bank of America Corp. began coverage on Nevro Corp in a research note on Monday, August 8th. They issued a “buy” rating and a $100.00 price target for the company. Morgan Stanley restated a “buy” rating and issued a $86.00 price target on shares of Nevro Corp in a research note on Wednesday, June 29th. Finally, JMP Securities lifted their price target on Nevro Corp from $90.00 to $110.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Nevro Corp has an average rating of “Buy” and an average price target of $104.00.
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Shares of Nevro Corp (NASDAQ:NVRO) opened at 98.02 on Tuesday. Nevro Corp has a 1-year low of $36.51 and a 1-year high of $106.93. The stock has a 50 day moving average price of $97.95 and a 200 day moving average price of $80.60. The company’s market capitalization is $2.79 billion.
Nevro Corp (NASDAQ:NVRO) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.16. The company had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $45.11 million. The company’s quarterly revenue was up 385.5% on a year-over-year basis. On average, equities analysts anticipate that Nevro Corp will post ($1.42) EPS for the current fiscal year.
In other Nevro Corp news, VP Michael Enxing sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $82.06, for a total transaction of $123,090.00. Following the completion of the sale, the vice president now directly owns 39,463 shares in the company, valued at approximately $3,238,333.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wilfred E. Jaeger sold 155,160 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $97.31, for a total value of $15,098,619.60. The disclosure for this sale can be found here.
Large investors have recently bought and sold shares of the company. Creative Planning raised its stake in Nevro Corp by 1,179.5% in the third quarter. Creative Planning now owns 2,495 shares of the company’s stock valued at $260,000 after buying an additional 2,300 shares during the period. First Mercantile Trust Co. raised its stake in Nevro Corp by 1.2% in the third quarter. First Mercantile Trust Co. now owns 13,500 shares of the company’s stock valued at $1,409,000 after buying an additional 165 shares during the period. BNP Paribas Arbitrage SA raised its stake in Nevro Corp by 110.8% in the third quarter. BNP Paribas Arbitrage SA now owns 1,977 shares of the company’s stock valued at $206,000 after buying an additional 1,039 shares during the period. Macquarie Group Ltd. purchased a new stake in Nevro Corp during the second quarter valued at approximately $6,145,000. Finally, Nomura Holdings Inc. purchased a new stake in Nevro Corp during the second quarter valued at approximately $388,000.
Nevro Corp Company Profile
Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain.
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