Nevro Corp. (NYSE:NVRO) Given New $95.00 Price Target at Morgan Stanley

Nevro Corp. (NYSE:NVRO) had its price objective increased by Morgan Stanley from $87.00 to $95.00 in a research report released on Tuesday, August 8th. They currently have an overweight rating on the medical equipment provider’s stock.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut Nevro Corp. from a hold rating to a sell rating in a research report on Thursday, May 11th. Northland Securities reissued a buy rating and issued a $96.00 target price on shares of Nevro Corp. in a research report on Tuesday, May 9th. ValuEngine cut Nevro Corp. from a hold rating to a sell rating in a research report on Wednesday, May 24th. Canaccord Genuity reaffirmed a buy rating and set a $120.00 price objective on shares of Nevro Corp. in a research report on Wednesday, July 5th. Finally, BidaskClub raised Nevro Corp. from a sell rating to a hold rating in a research report on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $100.57.

Shares of Nevro Corp. (NYSE NVRO) traded up 0.32% during midday trading on Tuesday, reaching $84.01. The company had a trading volume of 331,973 shares. Nevro Corp. has a 12-month low of $65.82 and a 12-month high of $106.93. The company has a 50 day moving average of $83.73 and a 200 day moving average of $85.18. The firm’s market capitalization is $2.47 billion.

Nevro Corp. (NYSE:NVRO) last announced its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the 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 16.25% and a negative net margin of 14.33%. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) earnings per share. Analysts anticipate that Nevro Corp. will post ($1.16) EPS for the current year.

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In related news, CFO Andrew H. Galligan sold 7,000 shares of Nevro Corp. stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $82.31, for a total transaction of $576,170.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wilfred E. Jaeger sold 79,657 shares of Nevro Corp. stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $82.74, for a total value of $6,590,820.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,577 shares of company stock worth $11,696,551. Insiders own 12.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Nevro Corp. during the first quarter valued at about $164,000. Tower Research Capital LLC TRC increased its stake in shares of Nevro Corp. by 118.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the medical equipment provider’s stock valued at $182,000 after buying an additional 1,055 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Nevro Corp. during the first quarter valued at about $194,000. SG Americas Securities LLC increased its stake in shares of Nevro Corp. by 32.4% in the first quarter. SG Americas Securities LLC now owns 2,214 shares of the medical equipment provider’s stock valued at $207,000 after buying an additional 542 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Nevro Corp. during the first quarter valued at about $237,000.

Nevro Corp. Company Profile

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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