Nevro (NYSE:NVRO) PT Raised to $158.00

Nevro (NYSE:NVRO) had its price objective raised by analysts at Wells Fargo & Co from $144.00 to $158.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Co‘s price target would suggest a potential upside of 21.40% from the company’s current price.

Several other brokerages have also recently commented on NVRO. Oppenheimer reaffirmed a “market perform” rating on shares of Nevro in a report on Monday, January 6th. UBS Group lifted their price objective on shares of Nevro from $77.00 to $84.00 and gave the company a “sell” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of Nevro from $96.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday. Canaccord Genuity raised shares of Nevro from a “hold” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $153.00 in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of Nevro from $125.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $121.77.

Shares of NVRO traded down $5.44 during mid-day trading on Wednesday, hitting $130.15. 787,522 shares of the company’s stock were exchanged, compared to its average volume of 423,807. Nevro has a 52 week low of $42.82 and a 52 week high of $148.05. The stock’s 50-day simple moving average is $131.56 and its 200-day simple moving average is $104.63. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of -38.51 and a beta of 0.46. The company has a quick ratio of 4.54, a current ratio of 5.87 and a debt-to-equity ratio of 0.91.

Nevro (NYSE:NVRO) last announced its earnings results on Tuesday, February 25th. The medical equipment provider reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.18. Nevro had a negative net margin of 26.57% and a negative return on equity of 50.68%. The company had revenue of $114.37 million for the quarter, compared to analysts’ expectations of $110.83 million. Analysts forecast that Nevro will post -2.92 earnings per share for the current fiscal year.

In related news, CFO Andrew H. Galligan sold 17,718 shares of Nevro stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $120.11, for a total value of $2,128,108.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 7.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Atria Investments LLC grew its stake in shares of Nevro by 2.0% during the fourth quarter. Atria Investments LLC now owns 4,010 shares of the medical equipment provider’s stock worth $471,000 after buying an additional 79 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Nevro by 0.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 33,792 shares of the medical equipment provider’s stock worth $3,972,000 after buying an additional 125 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Nevro by 87.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 300 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 140 shares during the last quarter. Altshuler Shaham Ltd grew its stake in shares of Nevro by 148.6% during the fourth quarter. Altshuler Shaham Ltd now owns 276 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 165 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Nevro by 4.6% during the fourth quarter. Amalgamated Bank now owns 5,463 shares of the medical equipment provider’s stock worth $642,000 after buying an additional 241 shares during the last quarter.

About Nevro

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.

Featured Story: What is a Derivative?

The Fly

Analyst Recommendations for Nevro (NYSE:NVRO)

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.