Goldman Sachs Initiates Coverage on Nevro (NVRO)

Research analysts at Goldman Sachs started coverage on shares of Nevro (NYSE:NVRO) in a note issued to investors on Wednesday. The firm set a “neutral” rating and a $83.00 price target on the medical equipment provider’s stock. Goldman Sachs’ target price points to a potential downside of 5.46% from the stock’s current price.

A number of other brokerages also recently commented on NVRO. ValuEngine raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Monday. Zacks Investment Research downgraded shares of Nevro from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $100.00 price objective on shares of Nevro in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $97.44.

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NYSE:NVRO traded down $0.90 during trading hours on Wednesday, reaching $87.79. The company’s stock had a trading volume of 50,534 shares, compared to its average volume of 346,202. The company has a market capitalization of $2,615.81, a price-to-earnings ratio of -70.95 and a beta of -0.53. Nevro has a 12 month low of $65.00 and a 12 month high of $97.70. The company has a quick ratio of 5.91, a current ratio of 7.61 and a debt-to-equity ratio of 0.58.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $97.96 million during the quarter, compared to the consensus estimate of $96.87 million. Nevro had a negative return on equity of 15.01% and a negative net margin of 11.22%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the firm earned ($0.34) EPS. sell-side analysts expect that Nevro will post -0.76 EPS for the current year.

In other news, Director Wilfred E. Jaeger sold 10,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $80.48, for a total transaction of $804,800.00. Following the transaction, the director now directly owns 1,518 shares of the company’s stock, valued at $122,168.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wilfred E. Jaeger sold 14,458 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $83.28, for a total value of $1,204,062.24. Following the transaction, the director now directly owns 1,518 shares in the company, valued at $126,419.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 234,116 shares of company stock worth $18,913,822. Insiders own 12.10% of the company’s stock.

Several hedge funds have recently modified their holdings of NVRO. Hershey Trust Co. acquired a new position in shares of Nevro during the fourth quarter worth $119,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Nevro during the fourth quarter valued at $160,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Nevro during the third quarter valued at $211,000. Glenmede Trust Co. NA purchased a new stake in shares of Nevro during the fourth quarter valued at $237,000. Finally, HBK Investments L P purchased a new stake in shares of Nevro during the fourth quarter valued at $255,000.

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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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