Nevro (NVRO) Receives “Buy” Rating from BMO Capital Markets

BMO Capital Markets restated their buy rating on shares of Nevro (NYSE:NVRO) in a research report report published on Thursday morning. They currently have a $100.00 price target on the medical equipment provider’s stock.

Several other research firms have also commented on NVRO. BidaskClub raised shares of Nevro from a sell rating to a hold rating in a report on Saturday, October 7th. Canaccord Genuity reaffirmed a buy rating and issued a $120.00 price target on shares of Nevro in a report on Sunday, October 8th. Zacks Investment Research lowered shares of Nevro from a hold rating to a sell rating in a report on Wednesday, October 11th. Leerink Swann reaffirmed an outperform rating and issued a $110.00 price target (up from $105.00) on shares of Nevro in a report on Tuesday, November 7th. Finally, Northland Securities reaffirmed a buy rating and issued a $96.00 price target on shares of Nevro in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $99.25.

Nevro (NVRO) traded down $0.15 on Thursday, hitting $70.35. 475,300 shares of the stock traded hands, compared to its average volume of 514,003. Nevro has a one year low of $65.00 and a one year high of $99.63. The company has a quick ratio of 6.81, a current ratio of 8.78 and a debt-to-equity ratio of 0.59.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. The company had revenue of $82.26 million during the quarter, compared to the consensus estimate of $80.50 million. Nevro had a negative net margin of 14.09% and a negative return on equity of 17.27%. The company’s revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.14) EPS. equities analysts expect that Nevro will post -1.27 EPS for the current year.

In other Nevro news, CFO Andrew H. Galligan sold 7,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $75.11, for a total transaction of $525,770.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael F. Demane sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $93.50, for a total transaction of $467,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock valued at $1,450,770 over the last three months. 12.10% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in NVRO. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Nevro by 0.3% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 27,871 shares of the medical equipment provider’s stock worth $2,074,000 after purchasing an additional 85 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Nevro by 13.8% in the 2nd quarter. Prudential Financial Inc. now owns 2,878 shares of the medical equipment provider’s stock worth $214,000 after purchasing an additional 350 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Nevro by 17.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $181,000 after purchasing an additional 358 shares in the last quarter. Denver Investment Advisors LLC raised its holdings in shares of Nevro by 4.6% in the 2nd quarter. Denver Investment Advisors LLC now owns 10,162 shares of the medical equipment provider’s stock worth $756,000 after purchasing an additional 445 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Nevro by 8.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 6,857 shares of the medical equipment provider’s stock worth $510,000 after purchasing an additional 559 shares in the last quarter.

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About Nevro

Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.

Analyst Recommendations for Nevro (NYSE:NVRO)

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