Nevro Corp.’s (NVRO) “Buy” Rating Reiterated at Northland Securities
Nevro Corp. (NYSE:NVRO)‘s stock had its “buy” rating reissued by analysts at Northland Securities in a report issued on Tuesday. They presently have a $96.00 target price on the medical equipment provider’s stock. Northland Securities’ price target points to a potential upside of 10.82% from the company’s current price.
Other equities analysts have also issued reports about the company. B. Riley lowered Nevro Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $108.00 to $85.00 in a research note on Tuesday, May 9th. Morgan Stanley increased their price target on Nevro Corp. from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $120.00 price target on shares of Nevro Corp. in a research note on Wednesday, July 5th. Zacks Investment Research lowered Nevro Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. Finally, BidaskClub lowered Nevro Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $102.36.
Shares of Nevro Corp. (NYSE NVRO) traded up 4.80% during trading on Tuesday, hitting $86.63. The company had a trading volume of 1,209,508 shares. The stock’s market capitalization is $2.54 billion. The firm’s 50 day moving average is $80.93 and its 200-day moving average is $85.42. Nevro Corp. has a 52 week low of $65.82 and a 52 week high of $106.93.
Nevro Corp. (NYSE:NVRO) last announced its quarterly earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.11. Nevro Corp. had a negative net margin of 14.49% and a negative return on equity of 14.50%. The firm had revenue of $78.02 million for the quarter, compared to the consensus estimate of $77.75 million. During the same period in the previous year, the company posted ($0.31) earnings per share. Nevro Corp.’s quarterly revenue was up 40.8% on a year-over-year basis. Equities research analysts anticipate that Nevro Corp. will post ($1.08) EPS for the current fiscal year.
In other Nevro Corp. news, CFO Andrew H. Galligan sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $75.30, for a total transaction of $564,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.10% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Princeton Alpha Management LP bought a new stake in shares of Nevro Corp. during the first quarter worth about $322,000. Capital Fund Management S.A. increased its stake in shares of Nevro Corp. by 514.8% in the first quarter. Capital Fund Management S.A. now owns 69,585 shares of the medical equipment provider’s stock worth $6,520,000 after buying an additional 58,266 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Nevro Corp. by 4.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,537 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 102 shares during the period. Shaker Investments LLC OH bought a new stake in shares of Nevro Corp. during the first quarter worth about $796,000. Finally, Jennison Associates LLC increased its stake in shares of Nevro Corp. by 2.0% in the first quarter. Jennison Associates LLC now owns 680,194 shares of the medical equipment provider’s stock worth $63,734,000 after buying an additional 13,306 shares during the period.
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.
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