Nevro Corp (NVRO) Shares Up 2.1%
Nevro Corp (NASDAQ:NVRO) shot up 2.1% during mid-day trading on Friday . The stock traded as high as $96.98 and last traded at $96.34, with a volume of 421,329 shares traded. The stock had previously closed at $94.37.
Several research firms have issued reports on NVRO. BMO Capital Markets restated a “buy” rating and set a $100.00 target price on shares of Nevro Corp in a research report on Tuesday, August 9th. Bank of America Corp. began coverage on Nevro Corp in a research report on Monday, August 8th. They set a “buy” rating and a $100.00 target price on the stock. Zacks Investment Research upgraded Nevro Corp from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Friday, August 12th. Piper Jaffray Cos. restated an “overweight” rating and set a $112.00 target price (up previously from $98.00) on shares of Nevro Corp in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nevro Corp from $84.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Ten equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $102.43.
The firm has a 50-day moving average of $86.81 and a 200-day moving average of $69.76. The stock’s market cap is $2.75 billion.
Nevro Corp (NASDAQ:NVRO) last posted its earnings results on Monday, August 8th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. The company earned $55.40 million during the quarter, compared to the consensus estimate of $45.11 million. The firm’s revenue was up 385.5% on a year-over-year basis. Equities analysts expect that Nevro Corp will post ($1.43) EPS for the current year.
In other Nevro Corp news, Director Wilfred E. Jaeger sold 154,840 shares of Nevro Corp stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $97.79, for a total value of $15,141,803.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Doug Alleavitch sold 3,000 shares of Nevro Corp stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $100.00, for a total transaction of $300,000.00. Following the completion of the sale, the vice president now directly owns 5,961 shares of the company’s stock, valued at approximately $596,100. 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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