Axiom International Investors LLC DE Boosts Holdings in Nevro Corp. (NVRO)
Axiom International Investors LLC DE raised its stake in Nevro Corp. (NYSE:NVRO) by 16.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,464 shares of the medical equipment provider’s stock after buying an additional 4,782 shares during the period. Axiom International Investors LLC DE owned approximately 0.11% of Nevro worth $3,041,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Nevro by 2.0% in the second quarter. Vanguard Group Inc. now owns 1,973,146 shares of the medical equipment provider’s stock valued at $146,862,000 after buying an additional 38,553 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Nevro by 13.5% in the second quarter. BlackRock Inc. now owns 1,787,896 shares of the medical equipment provider’s stock valued at $133,073,000 after buying an additional 212,656 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Nevro by 8.8% in the second quarter. Franklin Resources Inc. now owns 1,541,934 shares of the medical equipment provider’s stock valued at $114,748,000 after buying an additional 125,135 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Nevro during the 2nd quarter worth approximately $105,837,000. Finally, Alliancebernstein L.P. grew its position in Nevro by 2.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,249,524 shares of the medical equipment provider’s stock worth $93,002,000 after purchasing an additional 27,143 shares in the last quarter.
Nevro Corp. (NYSE:NVRO) traded up $0.24 during midday trading on Wednesday, reaching $74.75. 57,146 shares of the company’s stock traded hands, compared to its average volume of 508,748. Nevro Corp. has a 12-month low of $65.82 and a 12-month high of $99.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 6.81 and a current ratio of 8.78.
Nevro (NYSE:NVRO) last posted its quarterly earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.02. Nevro had a negative net margin of 14.09% and a negative return on equity of 17.27%. The business had revenue of $82.26 million for the quarter, compared to analysts’ expectations of $80.50 million. During the same period in the previous year, the company posted ($0.14) EPS. Nevro’s revenue was up 35.0% on a year-over-year basis. equities analysts expect that Nevro Corp. will post -1.27 earnings per share for the current year.
In other news, CFO Andrew H. Galligan sold 7,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $75.11, for a total transaction of $525,770.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael F. Demane sold 25,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $87.73, for a total transaction of $2,193,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,467 shares of company stock worth $5,576,679. 9.10% of the stock is currently owned by corporate insiders.
NVRO has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on shares of Nevro from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Northland Securities reiterated a “buy” rating and set a $96.00 price objective on shares of Nevro in a research report on Tuesday, November 7th. Canaccord Genuity reiterated a “buy” rating and set a $120.00 price objective on shares of Nevro in a research report on Sunday, October 8th. BidaskClub cut shares of Nevro from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Finally, Zacks Investment Research cut shares of Nevro from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $100.00.
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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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