Nevro Corp. (NYSE:NVRO)‘s stock had its “overweight” rating reissued by investment analysts at J P Morgan Chase & Co in a note issued to investors on Monday, July 3rd. They currently have a $102.00 price target on the medical equipment provider’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 18.72% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the company. Northland Securities set a $96.00 price objective on Nevro Corp. and gave the company a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research downgraded Nevro Corp. from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd. ValuEngine downgraded Nevro Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. B. Riley downgraded Nevro Corp. to a “neutral” rating and set a $85.00 price target on the stock. in a report on Sunday, May 14th. Finally, Canaccord Genuity started coverage on Nevro Corp. in a report on Thursday, March 23rd. They issued a “buy” rating and a $120.00 price target on the stock. Three analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $101.40.
Nevro Corp. (NYSE:NVRO) traded down 0.75% during trading on Monday, reaching $85.92. The company had a trading volume of 346,329 shares. The company’s market capitalization is $2.52 billion. The firm’s 50 day moving average is $79.25 and its 200 day moving average is $85.48. Nevro Corp. has a one year low of $65.82 and a one year high of $106.93.
Nevro Corp. (NYSE:NVRO) last issued its quarterly earnings data on Monday, May 8th. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.24. Nevro Corp. had a negative net margin of 14.49% and a negative return on equity of 14.50%. The company had revenue of $68.40 million for the quarter, compared to analysts’ expectations of $68.71 million. During the same quarter last year, the company earned ($0.33) earnings per share. The company’s revenue for the quarter was up 64.0% on a year-over-year basis. On average, equities research analysts predict that Nevro Corp. will post ($1.02) earnings per share for the current year.
In related news, CEO Rami Elghandour sold 10,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $95.03, for a total value of $950,300.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael F. Demane sold 29,800 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $96.07, for a total value of $2,862,886.00. Following the completion of the transaction, the director now directly owns 501,795 shares in the company, valued at approximately $48,207,445.65. The disclosure for this sale can be found here. In the last three months, insiders sold 47,300 shares of company stock worth $4,377,936. 12.10% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in NVRO. Vanguard Group Inc. boosted its stake in shares of Nevro Corp. by 5.4% in the first quarter. Vanguard Group Inc. now owns 1,934,593 shares of the medical equipment provider’s stock valued at $181,271,000 after buying an additional 98,555 shares during the period. BlackRock Inc. boosted its stake in shares of Nevro Corp. by 76,628.7% in the first quarter. BlackRock Inc. now owns 1,575,240 shares of the medical equipment provider’s stock valued at $147,602,000 after buying an additional 1,573,187 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Nevro Corp. by 5.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,486,197 shares of the medical equipment provider’s stock valued at $139,257,000 after buying an additional 73,615 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Nevro Corp. by 28.5% in the first quarter. OppenheimerFunds Inc. now owns 770,708 shares of the medical equipment provider’s stock valued at $72,215,000 after buying an additional 170,708 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Nevro Corp. by 2.0% in the first quarter. Jennison Associates LLC now owns 680,194 shares of the medical equipment provider’s stock valued at $63,734,000 after buying an additional 13,306 shares during the period.
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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