Nevro (NYSE:NVRO) Hits New 52-Week High on Analyst Upgrade

Nevro Corp (NYSE:NVRO) reached a new 52-week high on Thursday after UBS Group raised their price target on the stock from $77.00 to $84.00. UBS Group currently has a sell rating on the stock. Nevro traded as high as $122.61 and last traded at $122.08, with a volume of 10387 shares changing hands. The stock had previously closed at $118.27.

A number of other research firms have also weighed in on NVRO. Morgan Stanley boosted their target price on Nevro from $100.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Co boosted their target price on Nevro from $86.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity boosted their target price on Nevro from $59.00 to $88.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. ValuEngine downgraded Nevro from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, SunTrust Banks began coverage on Nevro in a report on Tuesday, January 7th. They set a “buy” rating and a $132.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $94.00.

In other Nevro news, CFO Andrew H. Galligan sold 17,718 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $120.11, for a total transaction of $2,128,108.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Doug Alleavitch sold 1,000 shares of the company’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,822 shares of company stock worth $6,000,840. 7.60% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of NVRO. Quest Capital Management Inc. ADV purchased a new position in shares of Nevro during the 3rd quarter worth approximately $26,000. Prudential Financial Inc. purchased a new position in shares of Nevro during the 2nd quarter worth approximately $202,000. Creative Planning purchased a new stake in shares of Nevro in the 3rd quarter worth approximately $224,000. Atria Investments LLC purchased a new stake in shares of Nevro in the 2nd quarter worth approximately $250,000. Finally, Bank of Montreal Can grew its stake in shares of Nevro by 327.3% in the 2nd quarter. Bank of Montreal Can now owns 5,183 shares of the medical equipment provider’s stock worth $336,000 after buying an additional 3,970 shares during the last quarter.

The company has a current ratio of 5.87, a quick ratio of 4.54 and a debt-to-equity ratio of 0.91. The company has a market cap of $3.68 billion, a PE ratio of -74.73 and a beta of 0.38. The firm has a 50 day moving average of $114.37 and a two-hundred day moving average of $89.62.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.27. The company had revenue of $100.16 million for the quarter, compared to the consensus estimate of $92.27 million. Nevro had a negative return on equity of 46.35% and a negative net margin of 25.94%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.37) EPS. On average, research analysts forecast that Nevro Corp will post -3.65 EPS for the current year.

About Nevro (NYSE:NVRO)

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 the float in trading stocks?

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.