Essex Investment Management Co. LLC increased its stake in shares of Nevro Corp (NASDAQ:NVRO) by 40.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,860 shares of the company’s stock after buying an additional 3,735 shares during the period. Essex Investment Management Co. LLC’s holdings in Nevro Corp were worth $949,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in Nevro Corp during the second quarter valued at about $344,000. Daiwa Securities Group Inc. bought a new stake in Nevro Corp during the second quarter valued at about $545,000. Finally, American Century Companies Inc. boosted its stake in Nevro Corp by 209.1% in the second quarter. American Century Companies Inc. now owns 243,184 shares of the company’s stock valued at $17,937,000 after buying an additional 164,505 shares during the last quarter.
Nevro Corp (NASDAQ:NVRO) traded down 2.37% on Monday, reaching $101.92. 420,124 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $97.68 and a 200-day moving average price of $77.70. Nevro Corp has a 52 week low of $36.51 and a 52 week high of $106.93. The stock’s market capitalization is $2.90 billion.
Nevro Corp (NASDAQ:NVRO) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.16. The company earned $55.40 million during the quarter, compared to analysts’ expectations of $45.11 million. The business’s revenue was up 385.5% on a year-over-year basis. On average, analysts predict that Nevro Corp will post ($1.42) earnings per share for the current year.
NVRO has been the topic of several recent analyst reports. B. Riley initiated coverage on shares of Nevro Corp in a research report on Wednesday, September 21st. They set a “buy” rating and a $114.00 price objective on the stock. Zacks Investment Research upgraded shares of Nevro Corp from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research report on Friday, August 12th. Morgan Stanley restated a “buy” rating and issued a $86.00 price target on shares of Nevro Corp in a research report on Wednesday, June 29th. Leerink Swann restated a “buy” rating on shares of Nevro Corp in a research report on Monday, June 6th. Finally, BMO Capital Markets restated a “buy” rating and issued a $100.00 price target on shares of Nevro Corp in a research report on Tuesday, August 9th. Eleven equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $103.88.
In other news, VP Michael Enxing sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $75.39, for a total transaction of $113,085.00. Following the transaction, the vice president now owns 39,463 shares in the company, valued at approximately $2,975,115.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wilfred E. Jaeger sold 155,160 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $97.31, for a total value of $15,098,619.60. The disclosure for this sale can be found here.
Nevro Corp Company Profile
Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain.
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