Nevro Corp (NVRO) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “Nevro Corp. is a medical device company. It engages in developing and commercializing a neuromodulation platform for the treatment of chronic pain. The Company provides pain relief to the customers suffering from low back pain and types of chronic pains. Nevro has developed and commercialized the Senza (R) spinal cord stimulation (SCS) system for the treatment of chronic pain. Senza, HF10, Nevro and the Nevro logo are trademarks of the company. Nevro Corp. is headquartered in Menlo Park, California. “
Several other analysts have also recently issued reports on NVRO. B. Riley assumed coverage on Nevro Corp in a research note on Wednesday, September 21st. They issued a buy rating and a $114.00 price objective on the stock. William Blair assumed coverage on Nevro Corp in a research note on Tuesday, July 19th. They issued an outperform rating on the stock. JMP Securities increased their target price on Nevro Corp from $90.00 to $110.00 and gave the company a market outperform rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. increased their target price on Nevro Corp from $84.00 to $100.00 and gave the company an overweight rating in a report on Tuesday, August 9th. Finally, BMO Capital Markets reissued a buy rating and issued a $100.00 target price on shares of Nevro Corp in a report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $104.00.
Nevro Corp (NASDAQ:NVRO) opened at 99.1453 on Tuesday. Nevro Corp has a one year low of $36.51 and a one year high of $106.93. The firm’s market cap is $2.83 billion. The stock has a 50 day moving average price of $98.03 and a 200 day moving average price of $80.87.
Nevro Corp (NASDAQ:NVRO) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.16. The company earned $55.40 million during the quarter, compared to analyst estimates of $45.11 million. The company’s quarterly revenue was up 385.5% compared to the same quarter last year. Equities research analysts expect that Nevro Corp will post ($1.42) EPS for the current year.
In other news, VP Doug Alleavitch sold 1,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the sale, the vice president now owns 7,961 shares in the company, valued at $676,685. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Enxing sold 1,500 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $82.06, for a total transaction of $123,090.00. Following the sale, the vice president now owns 39,463 shares of the company’s stock, valued at approximately $3,238,333.78. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its stake in shares of Nevro Corp by 40.9% in the second quarter. Essex Investment Management Co. LLC now owns 12,860 shares of the company’s stock valued at $949,000 after buying an additional 3,735 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Nevro Corp during the second quarter valued at $323,000. Emerald Acquisition Ltd. acquired a new stake in shares of Nevro Corp during the second quarter valued at $6,949,000. First Trust Advisors LP acquired a new stake in shares of Nevro Corp during the second quarter valued at $2,406,000. Finally, Swiss National Bank increased its stake in shares of Nevro Corp by 32.2% in the second quarter. Swiss National Bank now owns 33,700 shares of the company’s stock valued at $2,486,000 after buying an additional 8,200 shares during the period.
About Nevro Corp
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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