FY2016 EPS Estimates for Nevro Corp Boosted by Analyst (NVRO)
Nevro Corp (NASDAQ:NVRO) – Equities researchers at William Blair boosted their FY2016 EPS estimates for shares of Nevro Corp in a note issued to investors on Tuesday. William Blair analyst M. Kaczor now forecasts that the firm will post earnings of ($1.00) per share for the year, up from their previous estimate of ($1.49). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Nevro Corp’s Q4 2016 earnings at ($0.23) EPS, Q1 2017 earnings at ($0.26) EPS, Q2 2017 earnings at ($0.20) EPS, Q3 2017 earnings at ($0.15) EPS, Q4 2017 earnings at ($0.05) EPS and FY2017 earnings at ($0.66) EPS.
Several other brokerages have also weighed in on NVRO. B. Riley initiated coverage on Nevro Corp in a research report on Thursday, September 15th. They issued a “buy” rating and a $114.00 target price on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $100.00 target price on shares of Nevro Corp in a research report on Tuesday, August 9th. Zacks Investment Research lowered Nevro Corp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 18th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $112.00 target price (up from $98.00) on shares of Nevro Corp in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on Nevro Corp from $84.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Eleven equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $100.50.
Nevro Corp (NASDAQ:NVRO) opened at 86.98 on Thursday. The stock’s 50 day moving average price is $95.22 and its 200 day moving average price is $83.91. Nevro Corp has a 52-week low of $47.07 and a 52-week high of $106.93. The firm’s market capitalization is $2.50 billion.
Nevro Corp (NASDAQ:NVRO) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.26. The business had revenue of $60.92 million for the quarter, compared to analyst estimates of $58.05 million. The company’s revenue was up 295.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.70) earnings per share.
Hedge funds have recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of Nevro Corp by 40.0% in the second quarter. Sei Investments Co. now owns 1,620 shares of the company’s stock worth $119,000 after buying an additional 463 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new stake in shares of Nevro Corp during the second quarter worth about $125,000. BlackRock Inc. raised its stake in shares of Nevro Corp by 130.1% in the second quarter. BlackRock Inc. now owns 2,487 shares of the company’s stock worth $183,000 after buying an additional 1,406 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Nevro Corp by 110.8% in the third quarter. BNP Paribas Arbitrage SA now owns 1,977 shares of the company’s stock worth $206,000 after buying an additional 1,039 shares during the last quarter. Finally, Numeric Investors LLC acquired a new stake in shares of Nevro Corp during the second quarter worth about $207,000.
In other news, CFO Andrew H. Galligan sold 7,500 shares of Nevro Corp stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $97.71, for a total transaction of $732,825.00. Following the sale, the chief financial officer now directly owns 30,079 shares of the company’s stock, valued at $2,939,019.09. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wilfred E. Jaeger sold 154,840 shares of Nevro Corp stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $97.79, for a total value of $15,141,803.60. The disclosure for this sale can be found here.
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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