Nevro Corp. (NVRO) Shares Bought by Asymmetry Capital Management L.P.
Asymmetry Capital Management L.P. boosted its holdings in Nevro Corp. (NYSE:NVRO) by 122.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,893 shares of the medical equipment provider’s stock after purchasing an additional 33,575 shares during the quarter. Nevro Corp. comprises 5.4% of Asymmetry Capital Management L.P.’s portfolio, making the stock its 7th largest position. Asymmetry Capital Management L.P. owned approximately 0.21% of Nevro Corp. worth $4,532,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in NVRO. BlackRock Inc. grew its holdings in shares of Nevro Corp. by 76,628.7% during the first quarter. BlackRock Inc. now owns 1,575,240 shares of the medical equipment provider’s stock valued at $147,602,000 after buying an additional 1,573,187 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Nevro Corp. during the second quarter valued at approximately $105,837,000. Jennison Associates LLC grew its holdings in shares of Nevro Corp. by 67.5% during the second quarter. Jennison Associates LLC now owns 1,139,119 shares of the medical equipment provider’s stock valued at $84,785,000 after buying an additional 458,925 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Nevro Corp. by 63.6% during the second quarter. Wells Fargo & Company MN now owns 973,783 shares of the medical equipment provider’s stock valued at $72,478,000 after buying an additional 378,422 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Nevro Corp. during the second quarter valued at approximately $18,916,000.
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A number of equities research analysts have recently commented on NVRO shares. Zacks Investment Research cut shares of Nevro Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BMO Capital Markets reiterated a “buy” rating and set a $106.00 price target on shares of Nevro Corp. in a report on Friday, September 1st. BidaskClub upgraded shares of Nevro Corp. from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $102.00 price target on shares of Nevro Corp. in a report on Monday, July 3rd. Finally, Northland Securities set a $96.00 price target on shares of Nevro Corp. and gave the company a “buy” rating in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $101.25.
In related news, CFO Andrew H. Galligan sold 7,000 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wilfred E. Jaeger sold 25,255 shares of the firm’s stock in a transaction that occurred on 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. In the last ninety days, insiders sold 290,907 shares of company stock worth $24,670,065. 12.10% of the stock is owned by corporate insiders.
Shares of Nevro Corp. (NYSE:NVRO) traded up 0.34% on Thursday, reaching $93.14. 84,424 shares of the company were exchanged. The stock’s market capitalization is $2.74 billion. Nevro Corp. has a 52 week low of $65.82 and a 52 week high of $102.26. The firm’s 50 day moving average price is $88.61 and its 200 day moving average price is $83.78.
Nevro Corp. (NYSE:NVRO) last issued its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.11). The firm had revenue of $78.02 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned ($0.31) EPS. Equities research analysts anticipate that Nevro Corp. will post ($1.16) EPS for the current year.
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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