Nevro Corp.’s (NYSE:NVRO) Buy Rating Reaffirmed at Northland Securities
Nevro Corp. (NYSE:NVRO)‘s stock had its “buy” rating reiterated by research analysts at Northland Securities in a research note issued to investors on Tuesday. They presently have a $96.00 target price on the medical equipment provider’s stock. Northland Securities’ target price would indicate a potential upside of 10.82% from the company’s current price.
A number of other brokerages have also issued reports on NVRO. BidaskClub lowered Nevro Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. B. Riley lowered Nevro Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $108.00 to $85.00 in a research note on Tuesday, May 9th. Zacks Investment Research upgraded Nevro Corp. from a “strong sell” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Wednesday, August 2nd. Morgan Stanley raised their target price on Nevro Corp. from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $102.00 price objective on shares of Nevro Corp. in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $102.36.
Nevro Corp. (NYSE:NVRO) traded up 4.80% during mid-day trading on Tuesday, reaching $86.63. The company’s stock had a trading volume of 1,209,508 shares. Nevro Corp. has a one year low of $65.82 and a one year high of $106.93. The company’s market capitalization is $2.54 billion. The stock has a 50-day moving average price of $80.93 and a 200-day moving average price of $85.42.
Nevro Corp. (NYSE:NVRO) last issued its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.11. The firm had revenue of $78.02 million during the quarter, compared to analysts’ expectations of $77.75 million. Nevro Corp. had a negative return on equity of 14.50% and a negative net margin of 14.49%. The business’s revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.31) EPS. Equities research analysts forecast that Nevro Corp. will post ($1.08) EPS for the current year.
In other news, CFO Andrew H. Galligan sold 7,500 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $75.30, for a total transaction of $564,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.10% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Nevro Corp. by 76,628.7% in the first quarter. BlackRock Inc. now owns 1,575,240 shares of the medical equipment provider’s stock worth $147,602,000 after buying an additional 1,573,187 shares during the period. Jennison Associates LLC boosted its stake in Nevro Corp. by 67.5% in the second quarter. Jennison Associates LLC now owns 1,139,119 shares of the medical equipment provider’s stock worth $84,785,000 after buying an additional 458,925 shares during the period. Victory Capital Management Inc. acquired a new stake in Nevro Corp. during the first quarter worth approximately $26,784,000. Perceptive Advisors LLC acquired a new stake in Nevro Corp. during the first quarter worth approximately $20,360,000. Finally, Janus Capital Management LLC boosted its stake in Nevro Corp. by 40.6% in the first quarter. Janus Capital Management LLC now owns 602,049 shares of the medical equipment provider’s stock worth $56,409,000 after buying an additional 173,954 shares during the period.
About Nevro Corp.
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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