After Canaccord Genuity and Citigroup gave Nevro Crop (NYSE: NVRO) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst David Lewis maintained a Buy rating on Nevro Crop today and set a price target of $118.00. The company’s shares closed last Monday at $92.84.
According to TipRanks.com, Lewis is a 4-star analyst with an average return of 3.0% and a 53.9% success rate. Lewis covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Baxter International.
Nevro Crop has an analyst consensus of Strong Buy, with a price target consensus of $140.71, representing a 52.9% upside. In a report released today, Citigroup also maintained a Buy rating on the stock with a $130.00 price target.
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Based on Nevro Crop’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $114 million and GAAP net loss of $13.74 million. In comparison, last year the company earned revenue of $108 million and had a GAAP net loss of $9.61 million.
Based on the recent corporate insider activity of 43 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. 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. The company was founded by Konstantinos Alataris in March 2006 and is headquartered in Redwood City, CA.
