Nevro Corp (NVRO) Trading 2% Higher
Nevro Corp (NASDAQ:NVRO) traded up 2% during mid-day trading on Thursday . The stock traded as high as $97.22 and last traded at $96.35, with a volume of 248,913 shares traded. The stock had previously closed at $94.43.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Nevro Corp from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Friday, August 12th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $112.00 price target (up previously from $98.00) on shares of Nevro Corp in a research note on Thursday, August 11th. JPMorgan Chase & Co. raised their target price on shares of Nevro Corp from $84.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. JMP Securities raised their target price on shares of Nevro Corp from $90.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 9th. Finally, BMO Capital Markets restated a “buy” rating and set a $100.00 target price on shares of Nevro Corp in a research note on Tuesday, August 9th. Ten analysts have rated the stock with a buy rating, Nevro Corp presently has an average rating of “Buy” and a consensus target price of $102.43.
The firm has a 50 day moving average of $89.12 and a 200 day moving average of $71.27. The firm’s market capitalization is $2.73 billion.
Nevro Corp (NASDAQ:NVRO) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.16. The business had revenue of $55.40 million for the quarter, compared to the consensus estimate of $45.11 million. The business’s revenue was up 385.5% on a year-over-year basis. On average, equities analysts expect that Nevro Corp will post ($1.43) earnings per share for the current fiscal year.
In other Nevro Corp news, VP Doug Alleavitch sold 3,000 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were 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 owns 5,961 shares in the company, valued at approximately $596,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew H. Galligan sold 7,500 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $97.71, for a total transaction of $732,825.00. Following the sale, the chief financial officer now owns 30,079 shares of the company’s stock, valued at approximately $2,939,019.09. 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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