J.P. Morgan analyst Robbie Marcus downgraded Nevro (NVRO) to Hold today and set a price target of $45. The company’s shares closed yesterday at $45.88.
According to TipRanks.com, Marcus is a 4-star analyst with an average return of 26.7% and a 55.6% success rate. Marcus covers the Healthcare sector, focusing on stocks such as Irhythm Technologies, Stryker Corporation, and Abbott Labs.
Currently, the analyst consensus on Nevro is a Hold with an average price target of $49.67.
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Based on Nevro’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.62 million. In comparison, last year the company had a GAAP net loss of $6.23 million.
Based on the recent corporate insider activity of 35 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.
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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.
