November 10, 2019 at 2:38 pm

JPMorgan Chase & Co. Boosts Nevro (NYSE:NVRO) Price Target to $80.00

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Nevro (NYSE:NVRO) had its price target upped by JPMorgan Chase & Co. from $62.00 to $80.00 in a research report report published on Thursday morning, Stock Target Advisor reports. They currently have a neutral rating on the medical equipment provider’s stock.

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Several other equities analysts have also recently weighed in on NVRO. Zacks Investment Research raised Nevro from a sell rating to a hold rating and set a $67.00 target price on the stock in a research note on Tuesday, August 13th. Morgan Stanley set a $76.00 target price on Nevro and gave the company a buy rating in a research note on Friday, August 9th. ValuEngine cut Nevro from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Bank of America lifted their target price on Nevro from $70.00 to $74.00 and gave the company a buy rating in a research note on Friday, August 9th. Finally, Wells Fargo & Co lifted their target price on Nevro from $86.00 to $105.00 and gave the company an outperform rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $86.83.

NYSE:NVRO traded up $2.21 on Thursday, hitting $105.59. 798,622 shares of the company’s stock traded hands, compared to its average volume of 519,500. The company has a current ratio of 6.05, a quick ratio of 4.66 and a debt-to-equity ratio of 0.89. Nevro has a 1 year low of $34.75 and a 1 year high of $108.20. The firm has a 50-day moving average price of $85.49 and a 200-day moving average price of $72.60. The company has a market cap of $2.69 billion, a PE ratio of -64.38 and a beta of 0.21.

Nevro (NYSE:NVRO) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.85) by $0.27. Nevro had a negative return on equity of 41.07% and a negative net margin of 24.51%. The company had revenue of $100.16 million for the quarter, compared to analysts’ expectations of $92.27 million. During the same quarter in the previous year, the business posted ($0.37) EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts forecast that Nevro will post -3.99 EPS for the current fiscal year.

In related news, VP Doug Alleavitch sold 1,000 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Nevro during the first quarter worth approximately $1,525,000. Moody Aldrich Partners LLC lifted its holdings 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 worth $1,036,000 after buying an additional 456 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Nevro by 255.3% during the second quarter. SG Americas Securities LLC now owns 30,398 shares of the medical equipment provider’s stock worth $1,971,000 after buying an additional 21,842 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Nevro during the second quarter worth approximately $2,449,000. Finally, Aperio Group LLC acquired a new position in shares of Nevro during the second quarter worth approximately $227,000.

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.

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