Trading Report: The Nevro Corp (NVRO) Given Consensus Rating of “Buy” by Analysts

The Nevro Corp (NVRO) Given Consensus Rating of “Buy” by Analysts

Shares of Nevro Corp (NASDAQ:NVRO) have been given a consensus rating of “Buy” by the eleven ratings firms that are covering the firm. Eleven analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is $104.00.

A number of equities research analysts have weighed in on the company. B. Riley assumed coverage on Nevro Corp in a research report on Wednesday, September 21st. They issued a “buy” rating and a $114.00 target price for the company. Zacks Investment Research upgraded Nevro Corp from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a research report on Friday, August 12th. William Blair assumed coverage on Nevro Corp in a research report on Tuesday, July 19th. They issued an “outperform” rating for the company. JMP Securities upped their target price on Nevro Corp from $90.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. increased 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.

In other Nevro Corp news, VP Doug Alleavitch sold 1,000 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the sale, the vice president now directly owns 7,961 shares of the company’s stock, valued at approximately $676,685. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael F. Demane sold 13,333 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $84.00, for a total transaction of $1,119,972.00. Following the sale, the director now directly owns 505,919 shares in the company, valued at $42,497,196. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in NVRO. 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 purchased a new stake in shares of Nevro Corp during the second quarter valued at about $323,000. Emerald Acquisition Ltd. purchased a new stake in shares of Nevro Corp during the second quarter valued at about $6,949,000. First Trust Advisors LP purchased a new stake in shares of Nevro Corp during the second quarter valued at about $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.

Shares of Nevro Corp (NASDAQ:NVRO) traded up 0.70% during midday trading on Thursday, reaching $99.18. The company’s stock had a trading volume of 258,370 shares. The company’s market cap is $2.83 billion. The stock’s 50-day moving average price is $97.64 and its 200-day moving average price is $79.50. Nevro Corp has a 12-month low of $36.51 and a 12-month high of $106.93.

Nevro Corp (NASDAQ:NVRO) last released its earnings results on Monday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. The firm earned $55.40 million during the quarter, compared to analyst estimates of $45.11 million. The business’s revenue for the quarter was up 385.5% compared to the same quarter last year. On average, analysts expect that Nevro Corp will post ($1.42) EPS for the current fiscal year.

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