Nevro Corp (NASDAQ:NVRO) had its price target raised by analysts at JMP Securities from $78.00 to $85.00 in a research report issued to clients and investors on Wednesday, Market Beat.com reports. The firm currently has a “market outperform” rating on the medical device company’s stock. JMP Securities’ price objective indicates a potential upside of 28.79% from the stock’s previous close.

Shares of Nevro Corp (NASDAQ:NVRO) traded down 3.08% on Wednesday, reaching $63.97. 241,433 shares of the company were exchanged. The company’s 50 day moving average is $66.21 and its 200 day moving average is $52.77. The firm’s market capitalization is $1.79 billion. Nevro Corp has a 12-month low of $36.51 and a 12-month high of $72.51.

Nevro Corp (NASDAQ:NVRO) last released its quarterly earnings data on Monday, November 9th. The medical device company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05. During the same period last year, the business posted ($5.96) earnings per share. The business earned $15.40 million during the quarter, compared to the consensus estimate of $12.51 million. The firm’s quarterly revenue was up 77.0% on a year-over-year basis. Analysts forecast that Nevro Corp will post ($2.64) earnings per share for the current year.

In other news, Director Wilfred E. Jaeger sold 175,000 shares of Nevro Corp stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $52.24, for a total value of $9,142,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andre Walker sold 7,987 shares of Nevro Corp stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $70.75, for a total transaction of $565,080.25. Following the completion of the transaction, the vice president now owns 470 shares of the company’s stock, valued at approximately $33,252.50. The disclosure for this sale can be found here.

Several institutional investors have bought and sold shares of the company. Diversified Trust Co increased its position in Nevro Corp by 19.4% in the fourth quarter. Diversified Trust Co now owns 9,669 shares of the medical device company’s stock valued at $653,000 after buying an additional 1,568 shares during the last quarter. Quantitative Systematic Strategies acquired a new position in Nevro Corp during the fourth quarter valued at $764,000. Finally, Jennison Associates increased its position in Nevro Corp by 138.7% in the third quarter. Jennison Associates now owns 326,410 shares of the medical device company’s stock valued at $15,142,000 after buying an additional 189,650 shares during the last quarter.

Other research analysts have also issued reports about the stock. Sterne Agee CRT raised their price objective on shares of Nevro Corp from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 4th. Zacks Investment Research reaffirmed a “hold” rating on shares of Nevro Corp in a research note on Sunday. Leerink Swann reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of Nevro Corp in a research note on Tuesday, December 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $80.00 price objective (up from $67.00) on shares of Nevro Corp in a research note on Monday, December 14th. Finally, BMO Capital Markets raised their price objective on shares of Nevro Corp from $75.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, January 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $74.00.

Nevro Corp. is a medical device company. The Company manufactures and markets active implantable medical devices for the treatment of neurological disorders initially focusing on the treatment of chronic pain. The Company developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is the only spinal cord stimulation (NASDAQ:NVRO) system that delivers its HF10 therapy. The Company’s Senza system creates electrical impulses from two hertz to 10 kilohertz, including its HF10 therapy, which allows for pain relief without paresthesia. HF10 therapy delivers waveforms at 10 kilohertz pulse rate with a statistically driven and clinically verified programming algorithm. Senza consists of leads, a trial stimulator, an implantable pulse generator (IPG), surgical tools, a clinician laptop programmer, a patient remote control and a mobile charger.

12 Month Chart for NASDAQ:NVRO

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