Wells Fargo & Co Trims Nevro (NVRO) Target Price to $62.00
Nevro (NYSE:NVRO) had its price target trimmed by Wells Fargo & Co from $84.00 to $62.00 in a research note issued to investors on Tuesday. The brokerage currently has a market perform rating on the medical equipment provider’s stock.
A number of other research analysts have also commented on NVRO. Goldman Sachs Group assumed coverage on shares of Nevro in a research note on Wednesday, April 4th. They issued a neutral rating and a $83.00 price target on the stock. ValuEngine upgraded shares of Nevro from a sell rating to a hold rating in a research note on Monday, April 2nd. Canaccord Genuity decreased their price target on shares of Nevro from $102.00 to $83.00 and set a buy rating on the stock in a research note on Monday, July 16th. JMP Securities reiterated an overweight rating and issued a $105.00 price target (down previously from $120.00) on shares of Nevro in a research note on Tuesday, May 8th. Finally, Morgan Stanley lowered shares of Nevro from an overweight rating to an equal weight rating and set a $95.00 price target on the stock. in a research note on Monday, July 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $85.70.
Shares of NVRO stock opened at $59.43 on Tuesday. The company has a current ratio of 7.99, a quick ratio of 6.17 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.77 billion, a PE ratio of -47.54 and a beta of -0.59. Nevro has a 52-week low of $54.87 and a 52-week high of $94.34.
In related news, CFO Andrew H. Galligan sold 7,000 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $76.14, for a total value of $532,980.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.90% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Next Century Growth Investors LLC acquired a new position in shares of Nevro during the 1st quarter worth approximately $138,000. Victory Capital Management Inc. boosted its position in shares of Nevro by 2,245.0% during the 1st quarter. Victory Capital Management Inc. now owns 2,345 shares of the medical equipment provider’s stock worth $203,000 after acquiring an additional 2,245 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Nevro during the 1st quarter worth approximately $208,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Nevro by 69.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $210,000 after acquiring an additional 999 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Nevro during the 1st quarter worth approximately $252,000.
Nevro Company Profile
Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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