JMP Securities analyst David Turkaly lowered the firm’s price target on Nevro to $40 from $75 and keeps an Outperform rating on the shares. While the quarter was in line with Nevro’s preannouncement, management reduced its expectations for 2H23 due to the sales infrastructure re-alignment that has occurred since Greg Siller became CCO, the analyst tells investors in a research note. Updated guidance reflects a double-digit y/y decline in the core back and leg pain SCS markets, the firm notes.
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