Oppenheimer upgraded shares of Nevro (NYSE:NVRO) from a market perform rating to an outperform rating in a report issued on Thursday, Briefing.com Automated Import reports. Oppenheimer currently has $106.00 target price on the medical equipment provider’s stock.
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Nevro from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Bank of America lifted their price target 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. Wells Fargo & Co lifted their price target on shares of Nevro from $86.00 to $105.00 and gave the company an outperform rating in a research note on Thursday. JMP Securities lifted their price target 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 price target on shares of Nevro and gave the company a hold rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Nevro has a consensus rating of Hold and an average price target of $86.83.
Nevro stock traded up $2.21 during trading on Thursday, reaching $105.59. The company had a trading volume of 798,622 shares, compared to its average volume of 519,500. The firm’s 50-day simple moving average is $85.49 and its 200 day simple moving average is $72.60. Nevro has a 1-year low of $34.75 and a 1-year high of $108.20. The firm has a market capitalization of $2.69 billion, a PE ratio of -64.38 and a beta of 0.21. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.66 and a current ratio of 6.05.
Nevro (NYSE:NVRO) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $92.27 million. During the same quarter last year, the company earned ($0.37) EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that Nevro will post -3.99 EPS for the current 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 stock was sold at an average price of $100.00, for a total value of $100,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Lisanti Capital Growth LLC purchased a new position in Nevro in the 3rd quarter valued at $1,243,000. Tamarack Advisers LP raised its holdings in shares of Nevro by 5.7% during the 3rd quarter. Tamarack Advisers LP now owns 52,864 shares of the medical equipment provider’s stock worth $4,545,000 after acquiring an additional 2,864 shares during the period. Creative Planning purchased a new position in shares of Nevro during the 3rd quarter worth $224,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Nevro by 17.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,718 shares of the medical equipment provider’s stock worth $1,007,000 after acquiring an additional 1,769 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Nevro by 39.7% during the 3rd quarter. California Public Employees Retirement System now owns 54,886 shares of the medical equipment provider’s stock worth $4,719,000 after acquiring an additional 15,586 shares during the period.
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.
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