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NVRO

Nevro

$45.65

-2 (-4.20%)

08:40
11/06/18
11/06
08:40
11/06/18
08:40

Nevro price target lowered to $63 from $80 at Canaccord

Canaccord analyst Jason Mills lowered his price target on Nevro to $63 from $80 following its in-line Q3 results. The analyst said the recent selloff has led to a significant multiple contraction and is an overreaction in his view. He likes its current valuation, positive macro trends, strong improving reimbursement environment, improving cash burn rates, and large under-penetrated market. Mills maintained his Buy rating on Nevro shares.

NVRO Nevro
$45.65

-2 (-4.20%)

07/25/18
WBLR
07/25/18
NO CHANGE
WBLR
Outperform
Nevro patent ruling not as bad as it seems, says William Blair
William Blair analyst Margaret Kaczor says the summary judgement issued yesterday is not as bad as it seems for Nevro (NVRO). While the initial headline appears negative, the ruling is similar to the preliminary judgment published earlier this month, Kaczor tells investors in a research note. Though some of the claims in the patents have been invalidated, the remaining claims, which include frequency ranges of 1.5 kHz to 100 kHz, were not invalidated, the analyst adds. She points out, though, that the judge found Boston Scientific (BSX) did not infringe on the claims as its commercially available devices could not be programmed to frequencies that would infringe and that devices that could be programmed to high frequency that are being used in clinical trials are included in safe harbor provisions. This leaves the door open in the event that Boston commercially launches a device within the frequency ranges referenced above, Kaczor writes. She believes, however, that even if Boston moves to launch a high frequency device in the United States, the company would likely have to file for FDA approval following the completion of its high-frequency trial. Despite some level of uncertainty this ruling may bring, Nevro's risk/reward is favorable, Kaczor contends. She keeps an Outperform rating on the shares.
10/19/18
GSCO
10/19/18
DOWNGRADE
Target $44
GSCO
Sell
Nevro downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Isaac Ro downgraded Nevro (NRVO) to Sell and lowered his price target for the shares to $44 from $60. The company's cycle of negative estimate revisions is not yet over, Ro tells investors in a research note where he also upgraded DexCom (DXCM) to Neutral. The analyst thinks consensus revenue expectations for Nevro are still too high amid "ramping" competition, the company's ongoing patent litigation with Boston Scientific (BSX) and the hiring disruption in its sales force.
11/06/18
JPMS
11/06/18
DOWNGRADE
Target $45
JPMS
Neutral
Nevro downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Robbie Marcus downgraded Nevro to Neutral and lowered his price target for the shares to $45 from $77. Nevro posted Q3 results that beat conservative expectations, but "this was more than offset by first-time color on 2019 growth that came in well below consensus," Marcus tells investors in a post-earnings research note. The analyst believes Street numbers for 2019 revenue growth need to come down to the high-single-digit range from low-double-digits currently, and he wouldn't be surprised to see out-year expectations lowered to a similar range given the commentary. Marcus still believes Nevro's longer term outlook is attractive, but is stepping to the sidelines "with growth looking to slow meaningfully for at least the next few quarters."
11/06/18
WELS
11/06/18
NO CHANGE
Target $50
WELS
Market Perform
Nevro price target lowered to $50 from $62 at Wells Fargo
Wells Fargo analyst Larry Biegelsen lowered his price target for Nevro to $50 from $62 following quarterly results. While Q3 results were "solid," Q4 outlook and market commentary disappointed, he contends. The analyst reiterates a Market Perform rating on the shares.

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