Nevro (NYSE:NVRO) Raised to “Outperform” at Oppenheimer

Nevro (NYSE:NVRO) was upgraded by analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $106.00 target price on the medical equipment provider’s stock. Oppenheimer’s price objective points to a potential upside of 0.39% from the company’s current price.

Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Nevro from a “sell” rating to a “hold” rating and set a $67.00 price target for the company in a report on Tuesday, August 13th. Canaccord Genuity boosted their price target on shares of Nevro from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Morgan Stanley set a $76.00 price target on shares of Nevro and gave the stock a “buy” rating in a report on Friday, August 9th. Bank of America boosted their price target on shares of Nevro from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Co upped their target price on shares of Nevro from $86.00 to $105.00 and gave the company 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 issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $86.83.

NYSE NVRO traded up $2.21 on Thursday, hitting $105.59. 798,622 shares of the stock were exchanged, compared to its average volume of 519,500. The company has a quick ratio of 4.66, a current ratio of 6.05 and a debt-to-equity ratio of 0.89. Nevro has a fifty-two week low of $34.75 and a fifty-two week high of $108.20. The company has a market cap of $2.69 billion, a PE ratio of -64.38 and a beta of 0.21. The company has a 50-day moving average price of $85.49 and a 200-day moving average price of $72.60.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) EPS for the quarter, topping 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 company had revenue of $100.16 million during the quarter, compared to analysts’ expectations of $92.27 million. During the same quarter in the previous year, the business posted ($0.37) EPS. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Nevro will post -3.99 EPS for the current fiscal year.

In other news, VP Doug Alleavitch sold 1,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $100.00, for a total value of $100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Quest Capital Management Inc. ADV acquired a new stake in Nevro during the 3rd quarter worth $26,000. First Trust Advisors LP acquired a new stake in Nevro during the 2nd quarter worth $2,449,000. Aperio Group LLC acquired a new stake in Nevro during the 2nd quarter worth $227,000. BB&T Securities LLC boosted its stake in Nevro by 20.0% during the 3rd quarter. BB&T Securities LLC now owns 13,043 shares of the medical equipment provider’s stock worth $1,119,000 after purchasing an additional 2,170 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Nevro by 18.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,203 shares of the medical equipment provider’s stock worth $856,000 after purchasing an additional 2,043 shares during the period.

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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