Nevro (NYSE:NVRO) Raised to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of Nevro (NYSE:NVRO) from a market perform rating to an outperform rating in a report published on Thursday morning, Briefing.com Automated Import reports. The firm currently has $106.00 target price on the medical equipment provider’s stock.

Several other brokerages have also recently issued reports on NVRO. Bank of America increased their target price on shares of Nevro from $70.00 to $74.00 and gave the stock a buy rating in a report on Friday, August 9th. Zacks Investment Research upgraded shares of Nevro from a sell rating to a hold rating and set a $67.00 target price on the stock in a report on Tuesday, August 13th. Canaccord Genuity increased their target price on shares of Nevro from $50.00 to $59.00 and gave the stock a hold rating in a report on Friday, August 9th. Morgan Stanley set a $76.00 target price on shares of Nevro and gave the stock a buy rating in a report on Friday, August 9th. Finally, ValuEngine cut shares of Nevro from a buy rating to a hold rating in a report on Wednesday, October 2nd. One equities 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 company. Nevro presently has a consensus rating of Hold and a consensus target price of $86.83.

Shares of NYSE NVRO traded up $2.21 during mid-day 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 business’s 50-day moving average is $85.49 and its 200-day moving average is $72.60. The company has a current ratio of 6.05, a quick ratio of 4.66 and a debt-to-equity ratio of 0.89. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -64.38 and a beta of 0.21. Nevro has a 52 week low of $34.75 and a 52 week high of $108.20.

Nevro (NYSE:NVRO) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $100.16 million for the quarter, compared to analysts’ expectations of $92.27 million. During the same period in the prior year, the business earned ($0.37) EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Nevro will post -3.99 earnings per share for the current year.

In other Nevro news, VP Doug Alleavitch sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Quest Capital Management Inc. ADV purchased a new stake in shares of Nevro during the third quarter valued at about $26,000. Moody Aldrich Partners LLC lifted its position in shares of Nevro by 2.9% during the second quarter. Moody Aldrich Partners LLC now owns 15,981 shares of the medical equipment provider’s stock valued at $1,036,000 after buying an additional 456 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Nevro by 11.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,949 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 1,019 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Nevro in the 2nd quarter valued at approximately $75,000. Finally, Trillium Asset Management LLC raised its position in shares of Nevro by 13.2% in the 2nd quarter. Trillium Asset Management LLC now owns 11,080 shares of the medical equipment provider’s stock valued at $718,000 after purchasing an additional 1,288 shares during the last quarter.

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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Analyst Recommendations for Nevro (NYSE:NVRO)

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