Shares of Nevro Corp. (NYSE:NVRO) have been assigned a consensus rating of “Hold” from the ten brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $102.00.
A number of equities analysts have recently weighed in on the company. BidaskClub cut Nevro Corp. from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Northland Securities reissued a “buy” rating and issued a $96.00 price target on shares of Nevro Corp. in a report on Tuesday, August 8th. Morgan Stanley boosted their price target on Nevro Corp. from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Zacks Investment Research cut Nevro Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $120.00 price target on shares of Nevro Corp. in a report on Sunday, October 8th.
In other news, Director Wilfred E. Jaeger sold 16,467 shares of Nevro Corp. stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $90.19, for a total value of $1,485,158.73. Following the completion of the sale, the director now owns 1,518 shares of the company’s stock, valued at $136,908.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael F. Demane sold 5,000 shares of Nevro Corp. stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $89.50, for a total value of $447,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,907 shares of company stock valued at $24,670,065. Company insiders own 12.10% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Nevro Corp. by 160.5% in the third quarter. Principal Financial Group Inc. now owns 275,383 shares of the medical equipment provider’s stock valued at $25,027,000 after purchasing an additional 169,683 shares during the period. Tygh Capital Management Inc. purchased a new stake in shares of Nevro Corp. in the third quarter valued at $6,641,000. Frontier Capital Management Co. LLC grew its position in shares of Nevro Corp. by 497.4% in the third quarter. Frontier Capital Management Co. LLC now owns 761,770 shares of the medical equipment provider’s stock valued at $69,230,000 after purchasing an additional 634,261 shares during the period. Dupont Capital Management Corp grew its position in shares of Nevro Corp. by 22.8% in the third quarter. Dupont Capital Management Corp now owns 9,029 shares of the medical equipment provider’s stock valued at $821,000 after purchasing an additional 1,677 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in shares of Nevro Corp. in the third quarter valued at $5,749,000.
Nevro Corp. (NYSE:NVRO) opened at $84.47 on Friday. Nevro Corp. has a 1-year low of $65.82 and a 1-year high of $99.63. The company has a quick ratio of 8.73, a current ratio of 11.07 and a debt-to-equity ratio of 0.59.
Nevro Corp. (NYSE:NVRO) last issued its quarterly earnings data 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). Nevro Corp. had a negative return on equity of 16.25% and a negative net margin of 14.33%. The firm had revenue of $78.02 million for the quarter, compared to analyst estimates of $77.75 million. During the same period in the prior year, the firm posted ($0.31) earnings per share. The business’s revenue for the quarter was up 40.8% compared to the same quarter last year. research analysts predict that Nevro Corp. will post -1.2 earnings per share for the current fiscal year.
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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