Northland Securities analyst Suraj Kalia maintained a Hold rating on Nevro (NVRO) today and set a price target of $45. The company’s shares closed yesterday at $44.77.
Kalia noted:
“We confess, we are thrilled with Keith as the CEO. Over time, we believe the Nevro story should gain traction. However, in the meantime, we will be witnessing the random walk theory in action.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 13.2% and a 59.4% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Varex Imaging Corporation, and Obalon Therapeutics Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Nevro with a $50.75 average price target, which is a 13.4% upside from current levels. In a report released today, J.P. Morgan also maintained a Hold rating on the stock.
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The company has a one-year high of $94.34 and a one-year low of $34.75. Currently, Nevro has an average volume of 604.6K.
Based on the recent corporate insider activity of 30 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. Earlier this month, Doug Alleavitch, the VP, Quality of NVRO bought 1,031 shares for a total of $43,611.
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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.
