Nevro (NYSE:NVRO) PT Raised to $105.00 at Wells Fargo & Co

Nevro (NYSE:NVRO) had its price objective boosted by Wells Fargo & Co from $86.00 to $105.00 in a research note released on Thursday morning, The Fly reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on NVRO. Morgan Stanley set a $76.00 price target on shares of Nevro and gave the company a buy rating in a research report on Friday, August 9th. Leerink Swann set a $98.00 target price on shares of Nevro and gave the stock a buy rating in a report on Friday, August 23rd. ValuEngine lowered shares of Nevro from a buy rating to a hold rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Nevro from a sell rating to a hold rating and set a $67.00 target price for the company in a report on Tuesday, August 13th. Finally, JMP Securities increased their target price on shares of Nevro to $115.00 and gave the stock an outperform rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $86.83.

NYSE NVRO traded up $2.21 during trading on Thursday, hitting $105.59. 798,622 shares of the company’s stock traded hands, compared to its average volume of 519,500. The stock has a fifty day moving average of $85.49 and a two-hundred day moving average of $72.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 6.05 and a quick ratio of 4.66. Nevro has a 12-month low of $34.75 and a 12-month high of $108.20. The firm has a market cap of $2.69 billion, a P/E ratio of -64.38 and a beta of 0.21.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.27. Nevro had a negative net margin of 24.51% and a negative return on equity of 41.07%. The business had revenue of $100.16 million during the quarter, compared to analyst estimates of $92.27 million. During the same period in the prior year, the business posted ($0.37) earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Nevro will post -3.99 earnings per share for the current fiscal year.

In other news, VP Doug Alleavitch sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Capital Management Inc. ADV purchased a new stake in Nevro in the third quarter worth about $26,000. Quantamental Technologies LLC purchased a new stake in Nevro in the second quarter worth about $75,000. Atria Investments LLC purchased a new stake in Nevro in the second quarter worth about $267,000. Creative Planning purchased a new stake in Nevro in the third quarter worth about $224,000. Finally, Prudential Financial Inc. purchased a new stake in Nevro in the second quarter worth about $202,000.

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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The Fly

Analyst Recommendations for Nevro (NYSE:NVRO)

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