Brokerages Set Nevro Corp. (NVRO) PT at $100.57

Nevro Corp. (NYSE:NVRO) has been given a consensus rating of “Hold” by the eleven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $100.57.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Nevro from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Canaccord Genuity reissued a “buy” rating and set a $120.00 target price on shares of Nevro in a research note on Sunday, October 8th. BidaskClub raised Nevro from a “sell” rating to a “hold” rating in a research note on Saturday, October 7th. Northland Securities reissued a “buy” rating and set a $96.00 target price on shares of Nevro in a research note on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and set a $106.00 target price on shares of Nevro in a research note on Friday, September 1st.

Nevro (NYSE:NVRO) traded down $0.82 during midday trading on Thursday, hitting $74.00. The stock had a trading volume of 511,861 shares, compared to its average volume of 529,321. Nevro has a 1-year low of $65.82 and a 1-year high of $99.63. The company has a current ratio of 8.78, a quick ratio of 6.81 and a debt-to-equity ratio of 0.59.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.02. Nevro had a negative return on equity of 17.27% and a negative net margin of 14.09%. The firm had revenue of $82.26 million during the quarter, compared to analysts’ expectations of $80.50 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was up 35.0% on a year-over-year basis. research analysts predict that Nevro will post -1.27 earnings per share for the current fiscal year.

In other news, Director Wilfred E. Jaeger sold 16,467 shares of Nevro 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 directly owns 1,518 shares of the company’s stock, valued at $136,908.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael F. Demane sold 5,000 shares of Nevro 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. Insiders sold 63,467 shares of company stock valued at $5,576,679 over the last ninety days. Insiders own 12.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Roosevelt Investment Group Inc. purchased a new position in Nevro in the second quarter valued at $3,958,000. Neuberger Berman Group LLC lifted its holdings in Nevro by 18.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 229,490 shares of the medical equipment provider’s stock worth $17,081,000 after buying an additional 36,000 shares during the last quarter. First Trust Advisors LP purchased a new stake in Nevro during the 2nd quarter worth about $1,631,000. Royal Bank of Canada lifted its holdings in Nevro by 11.8% during the 2nd quarter. Royal Bank of Canada now owns 228,687 shares of the medical equipment provider’s stock worth $17,022,000 after buying an additional 24,101 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Nevro by 160.5% during the 3rd quarter. Principal Financial Group Inc. now owns 275,383 shares of the medical equipment provider’s stock worth $25,027,000 after buying an additional 169,683 shares during the last quarter.

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Nevro 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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