Nevro (NVRO) Gets a Hold Rating from Northland Securities


In a report released today, Suraj Kalia from Northland Securities maintained a Hold rating on Nevro (NVRO), with a price target of $45. The company’s shares closed yesterday at $62.76.

Kalia commented:

“We are lowering our forward estimates. Our belief in Keith Grossman is the only reason to not downgrade the stock. Key Points Key comments made on the call: A substantial portion of company commentary had to do with an internal “cleanup effort” on the sales front. Specifically, company made the following comments: 1) Unacceptable level of turnover in the field; 2) SENZA II missed the mark on pricing and launch was not good; 3) Company took a hit in Q1-19 to mitigate the impact of high-volume centers that required constant volume-price discounts; 4) Sales process was essentially screwed up with no proper lines of communication, territory sizing & control, and rep incentives were all misaligned. In essence, cleanup on Aisle 1.”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 11.4% and a 61.3% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Varex Imaging Corporation, and Strata Skin Sciences Inc.

Nevro has an analyst consensus of Moderate Buy, with a price target consensus of $62.83, representing a 0.1% upside. In a report released today, Canaccord Genuity also downgraded the stock to Hold with a $50 price target.

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The company has a one-year high of $86.75 and a one-year low of $34.75. Currently, Nevro has an average volume of 683.8K.

Based on the recent corporate insider activity of 33 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 March 2019, Doug Alleavitch, the VP, Quality of NVRO bought 1,031 shares for a total of $43,611.

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. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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