Nevro Corp (NVRO) Receives $100.50 Consensus PT from Analysts

Shares of Nevro Corp (NYSE:NVRO) have been assigned a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the company. One equities research analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $105.60.

A number of brokerages recently issued reports on NVRO. B. Riley reissued a “buy” rating and issued a $108.00 price objective on shares of Nevro Corp in a report on Friday, February 24th. Zacks Investment Research raised shares of Nevro Corp from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Wednesday, December 28th. Northland Securities reaffirmed a “positive” rating and set a $110.00 target price on shares of Nevro Corp in a research note on Thursday, February 2nd. Leerink Swann increased their price target on shares of Nevro Corp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Finally, Canaccord Genuity began coverage on shares of Nevro Corp in a research report on Thursday, March 23rd. They set a “buy” rating and a $120.00 price target on the stock.

Nevro Corp (NYSE:NVRO) traded up 0.15% on Tuesday, reaching $87.46. 243,750 shares of the company were exchanged. Nevro Corp has a 12-month low of $61.52 and a 12-month high of $106.93. The firm’s market capitalization is $2.55 billion. The firm has a 50-day moving average of $92.01 and a 200 day moving average of $88.25.

Nevro Corp (NYSE:NVRO) last announced its quarterly earnings data on Thursday, February 23rd. The medical equipment provider reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.14. Nevro Corp had a negative net margin of 18.91% and a negative return on equity of 14.57%. The firm earned $70.50 million during the quarter, compared to analysts’ expectations of $66.41 million. During the same period in the prior year, the company posted ($0.51) EPS. The company’s revenue for the quarter was up 113.0% compared to the same quarter last year. On average, equities analysts predict that Nevro Corp will post ($0.54) earnings per share for the current year.

In other news, VP Michael Enxing sold 38,500 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $91.01, for a total transaction of $3,503,885.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wilfred E. Jaeger sold 43,980 shares of Nevro Corp stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $95.03, for a total transaction of $4,179,419.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,180 shares of company stock worth $12,730,657. Insiders own 12.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in NVRO. Franklin Resources Inc. increased its stake in Nevro Corp by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 1,702,389 shares of the medical equipment provider’s stock worth $123,696,000 after buying an additional 55,632 shares during the period. BlackRock Fund Advisors increased its stake in Nevro Corp by 8.2% in the third quarter. BlackRock Fund Advisors now owns 700,023 shares of the medical equipment provider’s stock worth $73,075,000 after buying an additional 53,254 shares during the period. Columbus Circle Investors increased its stake in Nevro Corp by 19.2% in the first quarter. Columbus Circle Investors now owns 634,327 shares of the medical equipment provider’s stock worth $59,436,000 after buying an additional 102,341 shares during the period. 1832 Asset Management L.P. increased its stake in Nevro Corp by 719.1% in the third quarter. 1832 Asset Management L.P. now owns 614,300 shares of the medical equipment provider’s stock worth $62,065,000 after buying an additional 539,300 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Nevro Corp by 28.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 552,945 shares of the medical equipment provider’s stock worth $57,722,000 after buying an additional 123,825 shares during the period.

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About Nevro Corp

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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