Nevro Corp. (NVRO) Receives Average Recommendation of “Hold” from Brokerages
Shares of Nevro Corp. (NYSE:NVRO) have received an average rating of “Hold” from the ten research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $102.00.
A number of brokerages have commented on NVRO. Zacks Investment Research downgraded shares of Nevro Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $120.00 price objective on shares of Nevro Corp. in a research report on Sunday. BidaskClub raised shares of Nevro Corp. from a “sell” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets reissued a “buy” rating and issued a $106.00 price objective on shares of Nevro Corp. in a research report on Friday, September 1st. Finally, Northland Securities reaffirmed a “buy” rating and issued a $96.00 target price on shares of Nevro Corp. in a research report on Tuesday, August 8th.
Nevro Corp. (NYSE NVRO) opened at 92.20 on Wednesday. Nevro Corp. has a 12-month low of $65.82 and a 12-month high of $102.26. The stock’s market capitalization is $2.71 billion. The firm has a 50-day moving average of $88.43 and a 200 day moving average of $83.72.
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 Zacks’ consensus estimate of ($0.29) by ($0.11). Nevro Corp. had a negative net margin of 14.33% and a negative return on equity of 16.25%. The firm had revenue of $78.02 million during the quarter, compared to analysts’ expectations of $77.75 million. During the same period in the prior year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. On average, analysts predict that Nevro Corp. will post ($1.16) earnings per share for the current fiscal year.
In related news, Director Wilfred E. Jaeger sold 16,467 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $90.19, for a total value of $1,485,158.73. Following the transaction, the director now directly owns 1,518 shares of the company’s stock, valued at approximately $136,908.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael F. Demane sold 5,000 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 290,907 shares of company stock worth $24,670,065 over the last ninety days. Insiders own 12.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its position in Nevro Corp. by 17.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $181,000 after purchasing an additional 358 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Nevro Corp. by 118.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the medical equipment provider’s stock worth $182,000 after purchasing an additional 1,055 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in Nevro Corp. during the 2nd quarter worth $190,000. US Bancorp DE grew its position in Nevro Corp. by 412.4% during the 2nd quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 2,099 shares during the last quarter. Finally, Inspirion Wealth Advisors LLC purchased a new position in Nevro Corp. during the 2nd quarter worth $205,000.
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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