New York State Common Retirement Fund grew its holdings in Nevro Corp. (NYSE:NVRO) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,495 shares of the medical equipment provider’s stock after purchasing an additional 3,028 shares during the quarter. New York State Common Retirement Fund owned about 0.36% of Nevro Corp. worth $7,778,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans raised its position in shares of Nevro Corp. by 5.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 210,260 shares of the medical equipment provider’s stock valued at $15,650,000 after buying an additional 10,030 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Nevro Corp. during the 2nd quarter valued at approximately $18,916,000. PNC Financial Services Group Inc. purchased a new stake in shares of Nevro Corp. during the 2nd quarter valued at approximately $190,000. Amalgamated Bank raised its position in shares of Nevro Corp. by 20.5% during the 2nd quarter. Amalgamated Bank now owns 3,547 shares of the medical equipment provider’s stock valued at $264,000 after buying an additional 603 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Nevro Corp. during the 2nd quarter valued at approximately $10,048,000.
In other Nevro Corp. news, Director Wilfred E. Jaeger sold 79,657 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $82.74, for a total transaction of $6,590,820.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael F. Demane sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $93.50, for a total transaction of $467,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,907 shares of company stock worth $24,670,065. 12.10% of the stock is currently owned by insiders.
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Several research firms have recently commented on NVRO. Zacks Investment Research raised shares of Nevro Corp. from a “strong sell” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Wednesday, August 2nd. Northland Securities reaffirmed a “buy” rating and set a $96.00 price target on shares of Nevro Corp. in a research report on Tuesday, August 8th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $102.00 price target on shares of Nevro Corp. in a research report on Monday, July 3rd. BidaskClub raised shares of Nevro Corp. from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $120.00 price target on shares of Nevro Corp. in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $101.25.
Shares of Nevro Corp. (NYSE:NVRO) opened at 92.20 on Wednesday. The company has a 50-day moving average of $88.43 and a 200 day moving average of $83.72. The firm’s market cap is $2.71 billion. Nevro Corp. has a 12-month low of $65.82 and a 12-month high of $102.26.
Nevro Corp. (NYSE:NVRO) last posted its quarterly earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.11). The company had revenue of $78.02 million for the quarter, compared to analysts’ expectations of $77.75 million. Nevro Corp. had a negative return on equity of 16.25% and a negative net margin of 14.33%. The business’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.31) EPS. Equities research analysts anticipate that Nevro Corp. will post ($1.16) earnings per share for the current fiscal year.
Nevro Corp. Profile
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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