Nevro (NYSE:NVRO)‘s stock had its “buy” rating reissued by research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also commented on NVRO. Goldman Sachs Group initiated coverage on Nevro in a research note on Wednesday, April 4th. They issued a “neutral” rating and a $83.00 price target for the company. ValuEngine raised Nevro from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. JMP Securities reaffirmed an “overweight” rating and issued a $105.00 price target (down previously from $120.00) on shares of Nevro in a research note on Tuesday, May 8th. Morgan Stanley lowered Nevro from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Monday, July 2nd. Finally, TheStreet lowered Nevro from a “c-” rating to a “d+” rating in a research report on Wednesday, June 6th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Nevro presently has a consensus rating of “Hold” and an average target price of $98.38.
NVRO stock traded up $3.16 on Wednesday, reaching $67.20. The company’s stock had a trading volume of 2,046,382 shares, compared to its average volume of 463,731. Nevro has a 12-month low of $62.85 and a 12-month high of $94.34. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -53.76 and a beta of -0.59. The company has a quick ratio of 6.17, a current ratio of 7.99 and a debt-to-equity ratio of 0.61.
Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, May 7th. The medical equipment provider reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.25). Nevro had a negative return on equity of 16.32% and a negative net margin of 11.53%. The business had revenue of $87.64 million during the quarter, compared to analysts’ expectations of $89.32 million. During the same period in the previous year, the business earned ($0.50) EPS. The business’s revenue was up 28.1% compared to the same quarter last year. equities research analysts anticipate that Nevro will post -1.21 earnings per share for the current year.
In other Nevro news, CFO Andrew H. Galligan sold 7,000 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $76.14, for a total transaction of $532,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.90% of the company’s stock.
Several large investors have recently modified their holdings of NVRO. Jennison Associates increased its holdings in shares of Nevro by 138.7% during the third quarter. Jennison Associates now owns 326,410 shares of the medical equipment provider’s stock valued at $15,142,000 after acquiring an additional 189,650 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Nevro by 33.0% during the fourth quarter. First Mercantile Trust Co. now owns 14,904 shares of the medical equipment provider’s stock valued at $1,006,000 after acquiring an additional 3,700 shares in the last quarter. Numeric Investors LLC bought a new position in shares of Nevro during the fourth quarter valued at $2,052,000. Swiss National Bank increased its holdings in shares of Nevro by 4.3% during the fourth quarter. Swiss National Bank now owns 19,200 shares of the medical equipment provider’s stock valued at $1,296,000 after acquiring an additional 800 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Nevro by 14.2% during the fourth quarter. Rhumbline Advisers now owns 16,215 shares of the medical equipment provider’s stock valued at $1,095,000 after acquiring an additional 2,020 shares in the last quarter.
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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