Legal & General Group Plc boosted its position in Nevro Corp. (NYSE:NVRO) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,137 shares of the medical equipment provider’s stock after buying an additional 418 shares during the period. Legal & General Group Plc’s holdings in Nevro Corp. were worth $760,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NVRO. Fortaleza Asset Management Inc. bought a new position in Nevro Corp. during the first quarter worth $164,000. Ameritas Investment Partners Inc. acquired a new stake in Nevro Corp. during the first quarter worth about $194,000. SG Americas Securities LLC boosted its stake in Nevro Corp. by 32.4% in the first quarter. SG Americas Securities LLC now owns 2,214 shares of the medical equipment provider’s stock worth $207,000 after buying an additional 542 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Nevro Corp. during the first quarter worth about $237,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Nevro Corp. by 4.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,537 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 102 shares during the last quarter.
Nevro Corp. (NYSE NVRO) opened at 84.01 on Friday. Nevro Corp. has a 52 week low of $65.82 and a 52 week high of $106.93. The stock has a 50 day moving average price of $83.73 and a 200 day moving average price of $85.18. The company’s market cap is $2.47 billion.
Nevro Corp. (NYSE:NVRO) last announced its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by $0.11. The business had revenue of $78.02 million for the quarter, compared to analysts’ expectations of $77.75 million. Nevro Corp. had a negative net margin of 14.33% and a negative return on equity of 16.25%. The firm’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.31) earnings per share. On average, equities analysts forecast that Nevro Corp. will post ($1.16) earnings per share for the current year.
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A number of research firms have recently issued reports on NVRO. Zacks Investment Research cut Nevro Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Northland Securities reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Nevro Corp. in a research report on Tuesday, August 8th. Morgan Stanley lifted their price target on Nevro Corp. from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. BidaskClub cut Nevro Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Canaccord Genuity reissued a “buy” rating and set a $120.00 price target on shares of Nevro Corp. in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Nevro Corp. has an average rating of “Hold” and a consensus price target of $100.57.
In other news, CFO Andrew H. Galligan sold 7,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $82.31, for a total transaction of $576,170.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wilfred E. Jaeger sold 25,255 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $82.40, for a total transaction of $2,081,012.00. The disclosure for this sale can be found here. Insiders have sold a total of 141,577 shares of company stock worth $11,696,551 over the last 90 days. Corporate insiders own 12.10% of the company’s stock.
About Nevro Corp.
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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