BMO Capital analyst Joanne Wuensch reiterated a Buy rating on Nevro (NYSE: NVRO) yesterday and set a price target of $80. The company’s shares opened today at $58.50, close to its 52-week low of $54.87.
According to TipRanks.com, Wuensch is a 5-star analyst with an average return of 10.7% and a 69.8% success rate. Wuensch covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Baxter International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nevro with a $80.33 average price target, a 37.3% upside from current levels. In a report issued on July 11, J.P. Morgan also maintained a Buy rating on the stock.
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Based on Nevro’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $17.71 million. In comparison, last year the company had a GAAP net loss of $11.61 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NVRO in relation to earlier this year. Most recently, in May 2018, Michael Demane, a Director at NVRO bought 3,631 shares for a total of $65,358.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Nevro Corp. engages in the provision of medical devices. It develops and commercializes senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain. The company was founded by Konstantinos Alataris in March 2006 and is headquartered in Redwood City, CA.
