Nevro (NYSE:NVRO) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $106.00 price target on the medical equipment provider’s stock. Oppenheimer’s target price indicates a potential upside of 0.39% from the company’s previous close.
NVRO has been the subject of several other reports. Wells Fargo & Co raised their target price on shares of Nevro from $86.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America raised their target price on shares of Nevro from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity raised their target price on shares of Nevro from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. JMP Securities raised their target price on shares of Nevro to $115.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Northland Securities set a $65.00 target price on shares of Nevro and gave the company a “hold” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Nevro has a consensus rating of “Hold” and a consensus price target of $86.83.
Shares of NYSE NVRO traded up $2.21 during midday trading on Thursday, reaching $105.59. 798,622 shares of the company’s stock traded hands, compared to its average volume of 519,500. The company has a quick ratio of 4.66, a current ratio of 6.05 and a debt-to-equity ratio of 0.89. The stock’s 50 day simple moving average is $85.49 and its 200-day simple moving average is $72.60. Nevro has a one year low of $34.75 and a one year high of $108.20. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -64.38 and a beta of 0.21.
Nevro (NYSE:NVRO) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.27. Nevro had a negative net margin of 24.51% and a negative return on equity of 41.07%. The firm had revenue of $100.16 million for the quarter, compared to the consensus estimate of $92.27 million. During the same period last year, the firm earned ($0.37) earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Nevro will post -3.99 EPS for the current fiscal year.
In other Nevro news, VP Doug Alleavitch sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $100.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NVRO. Quest Capital Management Inc. ADV purchased a new position in shares of Nevro during the third quarter worth $26,000. Quantamental Technologies LLC purchased a new position in shares of Nevro during the second quarter worth $75,000. Prudential Financial Inc. purchased a new position in shares of Nevro during the second quarter worth $202,000. Creative Planning purchased a new position in shares of Nevro during the third quarter worth $224,000. Finally, Aperio Group LLC purchased a new position in shares of Nevro during the second quarter worth $227,000.
Nevro Company Profile
Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.
Further Reading: What is a Leveraged Buyout (LBO)?
Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.