Nevro Corp (NVRO) Reaches New 12-Month High at $98.91
Nevro Corp (NASDAQ:NVRO)’s share price reached a new 52-week high on Monday . The stock traded as high as $98.91 and last traded at $98.08, with a volume of 520,904 shares. The stock had previously closed at $97.89.
NVRO has been the subject of several recent research reports. Leerink Swann reissued a “buy” rating on shares of Nevro Corp in a research report on Monday, June 6th. Morgan Stanley reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Nevro Corp in a research report on Wednesday, June 29th. Wells Fargo & Co. started coverage on Nevro Corp in a research report on Tuesday, July 12th. They issued an “outperform” rating for the company. William Blair started coverage on Nevro Corp in a research report on Tuesday, July 19th. They issued an “outperform” rating for the company. Finally, Piper Jaffray Cos. started coverage on Nevro Corp in a research report on Friday, July 22nd. They issued an “overweight” rating and a $98.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $102.43.
The stock’s market capitalization is $2.78 billion. The stock’s 50 day moving average price is $81.25 and its 200-day moving average price is $67.53.
Nevro Corp (NASDAQ:NVRO) last released its earnings results on Monday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. The firm earned $55.40 million during the quarter, compared to analyst estimates of $45.11 million. The business’s revenue for the quarter was up 385.5% compared to the same quarter last year. On average, analysts forecast that Nevro Corp will post ($1.43) EPS for the current year.
In other news, Director Michael F. Demane sold 26,667 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $91.50, for a total transaction of $2,440,030.50. Following the completion of the sale, the director now owns 499,252 shares in the company, valued at approximately $45,681,558. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Doug Alleavitch sold 500 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $72.00, for a total value of $36,000.00. Following the sale, the vice president now owns 10,961 shares of the company’s stock, valued at approximately $789,192. 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.