Nevro Corp. (NVRO) Receives “Buy” Rating from BMO Capital Markets
BMO Capital Markets reaffirmed their buy rating on shares of Nevro Corp. (NYSE:NVRO) in a research report released on Friday morning. They currently have a $106.00 target price on the medical equipment provider’s stock.
NVRO has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Nevro Corp. from a strong sell rating to a buy rating and set a $96.00 target price for the company in a report on Wednesday, August 2nd. Northland Securities restated a buy rating and set a $96.00 target price on shares of Nevro Corp. in a report on Tuesday, August 8th. J P Morgan Chase & Co restated an overweight rating and set a $102.00 target price on shares of Nevro Corp. in a report on Monday, July 3rd. BidaskClub upgraded shares of Nevro Corp. from a sell rating to a hold rating in a research report on Sunday, July 16th. Finally, Canaccord Genuity restated a buy rating and issued a $120.00 price target on shares of Nevro Corp. in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $101.25.
Shares of Nevro Corp. (NYSE:NVRO) traded down 1.15% on Friday, hitting $85.19. The company had a trading volume of 265,764 shares. The company has a 50-day moving average of $85.18 and a 200 day moving average of $84.75. The stock’s market cap is $2.51 billion. Nevro Corp. has a 12 month low of $65.82 and a 12 month high of $106.93.
Nevro Corp. (NYSE:NVRO) last issued its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.11. The business had revenue of $78.02 million for the quarter, compared to the consensus estimate of $77.75 million. Nevro Corp. had a negative return on equity of 16.25% and a negative net margin of 14.33%. The company’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.31) earnings per share. Analysts anticipate that Nevro Corp. will post ($1.16) EPS for the current fiscal year.
In related news, Director Wilfred E. Jaeger sold 79,657 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $82.74, for a total value of $6,590,820.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew H. Galligan sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $82.31, for a total transaction of $576,170.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 234,440 shares of company stock valued at $19,619,157. 12.10% of the stock is owned by insiders.
Several large investors have recently modified their holdings of NVRO. Dynamic Technology Lab Private Ltd increased its stake in shares of Nevro Corp. by 8.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 6,857 shares of the medical equipment provider’s stock valued at $510,000 after buying an additional 559 shares during the period. Asymmetry Capital Management L.P. increased its stake in Nevro Corp. by 122.9% in the second quarter. Asymmetry Capital Management L.P. now owns 60,893 shares of the medical equipment provider’s stock worth $4,532,000 after buying an additional 33,575 shares during the last quarter. Sterling Capital Management LLC bought a new stake in Nevro Corp. during the second quarter worth about $233,000. Ameritas Investment Partners Inc. increased its stake in Nevro Corp. by 17.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $181,000 after buying an additional 358 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Nevro Corp. by 3.6% in the second quarter. California State Teachers Retirement System now owns 49,063 shares of the medical equipment provider’s stock worth $3,652,000 after buying an additional 1,689 shares during the last quarter.
Nevro Corp. Company Profile
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.
Receive News & Stock Ratings for Nevro Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro Corp. and related stocks with our FREE daily email newsletter.