Alliancebernstein L.P. lifted its position in Nevro Corp. (NYSE:NVRO) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,249,524 shares of the medical equipment provider’s stock after purchasing an additional 27,143 shares during the quarter. Alliancebernstein L.P. owned about 4.27% of Nevro Corp. worth $93,002,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of Nevro Corp. by 63.6% in the second quarter. Wells Fargo & Company MN now owns 973,783 shares of the medical equipment provider’s stock worth $72,478,000 after purchasing an additional 378,422 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Nevro Corp. by 8.8% in the second quarter. Franklin Resources Inc. now owns 1,541,934 shares of the medical equipment provider’s stock worth $114,748,000 after purchasing an additional 125,135 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Nevro Corp. in the second quarter worth about $1,237,000. Swiss National Bank raised its stake in shares of Nevro Corp. by 9.0% in the second quarter. Swiss National Bank now owns 38,900 shares of the medical equipment provider’s stock worth $2,895,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Cim Investment Mangement Inc. purchased a new position in shares of Nevro Corp. in the second quarter worth about $334,000.
Shares of Nevro Corp. (NYSE NVRO) opened at 88.08 on Tuesday. Nevro Corp. has a 12-month low of $65.82 and a 12-month high of $106.93. The company’s 50-day moving average price is $85.07 and its 200 day moving average price is $84.27. The firm’s market capitalization is $2.59 billion.
Nevro Corp. (NYSE:NVRO) last posted its quarterly earnings data on Monday, August 7th. The medical equipment provider reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 14.33% and a negative return on equity of 16.25%. The firm’s revenue was up 40.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.31) earnings per share. On average, equities research analysts forecast that Nevro Corp. will post ($1.16) EPS for the current fiscal year.
In other Nevro Corp. news, Director Wilfred E. Jaeger sold 79,657 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew H. Galligan sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $82.31, for a total value of $576,170.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 234,440 shares of company stock valued at $19,619,157. 12.10% of the stock is owned by company insiders.
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NVRO has been the subject of several research analyst reports. Zacks Investment Research upgraded Nevro Corp. from a “strong sell” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Wednesday, August 2nd. Northland Securities restated a “buy” rating and issued a $96.00 price objective on shares of Nevro Corp. in a research note on Tuesday, August 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $120.00 target price on shares of Nevro Corp. in a report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $106.00 target price on shares of Nevro Corp. in a report on Friday, September 1st. Finally, BidaskClub raised Nevro Corp. from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $101.25.
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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