Nevro Corp (NVRO) Hits New 12-Month High at $81.93
Nevro Corp (NASDAQ:NVRO) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $81.93 and last traded at $80.75, with a volume of 48,490 shares changing hands. The stock had previously closed at $81.26.
A number of research firms recently issued reports on NVRO. William Blair began coverage on shares of Nevro Corp in a research report on Tuesday, July 19th. They set an “outperform” rating for the company. Piper Jaffray Cos. began coverage on shares of Nevro Corp in a research report on Friday, July 22nd. They issued an “overweight” rating and a $98.00 price objective for the company. Wells Fargo & Co. began coverage on shares of Nevro Corp in a research report on Tuesday, July 12th. They issued an “outperform” rating for the company. Leerink Swann reiterated a “buy” rating on shares of Nevro Corp in a research report on Monday, June 6th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $86.00 price objective on shares of Nevro Corp in a research report on Wednesday, June 29th. Five equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $92.00.
The stock’s market capitalization is $2.37 billion. The firm has a 50-day moving average price of $76.01 and a 200 day moving average price of $65.61.
In related news, VP Doug Alleavitch sold 2,000 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. Following the transaction, the vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $716,880. 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 13,333 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $79.00, for a total transaction of $1,053,307.00. Following the completion of the transaction, the director now directly owns 512,586 shares in the company, valued at $40,494,294. The disclosure for this sale can be found here.
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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