Quantitative Systematic Strategies LLC decreased its position in Nevro Corp (NASDAQ:NVRO) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,674 shares of the company’s stock after selling 602 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Nevro Corp were worth $263,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new position in Nevro Corp during the second quarter worth $545,000. Bank of Montreal Can acquired a new position in shares of Nevro Corp during the second quarter valued at approximately $344,000. American Century Companies Inc. raised its position in shares of 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 period. Finally, Essex Investment Management Co. LLC raised its position in shares of Nevro Corp by 40.9% in the second quarter. Essex Investment Management Co. LLC now owns 12,860 shares of the company’s stock valued at $949,000 after buying an additional 3,735 shares during the period.
Nevro Corp (NASDAQ:NVRO) traded down 0.17% during midday trading on Friday, hitting $98.90. The company had a trading volume of 336,415 shares. The stock has a 50 day moving average of $97.90 and a 200 day moving average of $79.95. The firm’s market cap is $2.82 billion. Nevro Corp has a 52-week low of $36.51 and a 52-week high of $106.93.
Nevro Corp (NASDAQ:NVRO) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.16. The company had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $45.11 million. Nevro Corp’s revenue for the quarter was up 385.5% compared to the same quarter last year. On average, analysts anticipate that Nevro Corp will post ($1.42) EPS for the current year.
Several equities analysts have recently commented on the company. Zacks Investment Research raised Nevro Corp from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Wednesday, October 5th. B. Riley assumed coverage on Nevro Corp in a research note on Wednesday, September 21st. They issued a “buy” rating and a $114.00 price target on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $112.00 price target (up previously from $98.00) on shares of Nevro Corp in a research note on Thursday, August 11th. JMP Securities upped their price target on Nevro Corp from $90.00 to $110.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on Nevro Corp from $84.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Eleven research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $104.00.
In other Nevro Corp news, CEO Rami Elghandour sold 3,000 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $100.00, for a total transaction of $300,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew H. Galligan sold 7,500 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $97.71, for a total value of $732,825.00. Following the transaction, the chief financial officer now directly owns 30,079 shares of the company’s stock, valued at approximately $2,939,019.09. The disclosure for this sale can be found here.
About Nevro Corp
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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