Nevro Corp (NVRO) Receives $104.00 Consensus Target Price from Analysts
Nevro Corp (NASDAQ:NVRO) has been given a consensus rating of “Buy” by the eleven analysts that are covering the firm. Eleven equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued a report on the stock in the last year is $104.00.
A number of research firms recently issued reports on NVRO. Zacks Investment Research raised Nevro Corp from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Wednesday, October 5th. B. Riley began coverage on Nevro Corp in a report on Wednesday, September 21st. They issued a “buy” rating and a $114.00 price target for the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $112.00 price target (up from $98.00) on shares of Nevro Corp in a report on Thursday, August 11th. JMP Securities lifted their price target on Nevro Corp from $90.00 to $110.00 and gave the company a “market outperform” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on Nevro Corp from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th.
Nevro Corp (NASDAQ:NVRO) opened at 98.90 on Thursday. The firm’s market capitalization is $2.82 billion. The firm has a 50 day moving average of $97.90 and a 200 day moving average of $79.95. Nevro Corp has a one year low of $36.51 and a one year high of $106.93.
Nevro Corp (NASDAQ:NVRO) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.16. The company had revenue of $55.40 million for the quarter, compared to the consensus estimate of $45.11 million. Nevro Corp’s revenue was up 385.5% compared to the same quarter last year. Equities analysts forecast that Nevro Corp will post ($1.42) EPS for the current year.
In other Nevro Corp news, CEO Rami Elghandour sold 3,000 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $100.00, for a total transaction of $300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Doug Alleavitch sold 1,000 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the vice president now directly owns 7,961 shares of the company’s stock, valued at $676,685. The disclosure for this sale can be found here.
Institutional investors have recently bought and sold shares of the company. Sei Investments Co. raised its position in Nevro Corp by 40.0% in the second quarter. Sei Investments Co. now owns 1,620 shares of the company’s stock valued at $119,000 after buying an additional 463 shares during the last quarter. Fortaleza Asset Management Inc. bought a new position in Nevro Corp during the second quarter valued at about $125,000. BlackRock Inc. raised its position in Nevro Corp by 130.1% in the second quarter. BlackRock Inc. now owns 2,487 shares of the company’s stock valued at $183,000 after buying an additional 1,406 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Nevro Corp by 110.8% in the third quarter. BNP Paribas Arbitrage SA now owns 1,977 shares of the company’s stock valued at $206,000 after buying an additional 1,039 shares during the last quarter. Finally, Numeric Investors LLC bought a new position in Nevro Corp during the second quarter valued at about $207,000.
Nevro Corp Company Profile
Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain.
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