Quantbot Technologies LP Has $310,000 Holdings in Nevro Corp. (NVRO)
Quantbot Technologies LP grew its position in shares of Nevro Corp. (NYSE:NVRO) by 63.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,167 shares of the medical equipment provider’s stock after purchasing an additional 1,615 shares during the period. Quantbot Technologies LP’s holdings in Nevro Corp. were worth $310,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NVRO. Vanguard Group Inc. grew its holdings in shares of Nevro Corp. by 2.0% during the second quarter. Vanguard Group Inc. now owns 1,973,146 shares of the medical equipment provider’s stock worth $146,862,000 after buying an additional 38,553 shares in the last quarter. BlackRock Inc. raised its position in shares of Nevro Corp. 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 during the last quarter. Franklin Resources Inc. raised its position 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 valued at $114,748,000 after buying an additional 125,135 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Nevro Corp. by 5.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,486,197 shares of the medical equipment provider’s stock valued at $139,257,000 after buying an additional 73,615 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Nevro Corp. by 2.2% in the second quarter. Alliancebernstein L.P. now owns 1,249,524 shares of the medical equipment provider’s stock valued at $93,002,000 after buying an additional 27,143 shares during the last quarter.
In related news, CFO Andrew H. Galligan sold 7,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $82.31, for a total transaction of $576,170.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilfred E. Jaeger sold 79,657 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $82.74, for a total value of $6,590,820.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 285,907 shares of company stock valued at $24,202,565. 12.10% of the stock is currently owned by corporate insiders.
NVRO has been the topic of several recent analyst reports. Zacks Investment Research upgraded Nevro Corp. from a “strong sell” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Wednesday, August 2nd. Northland Securities set a $96.00 price target on Nevro Corp. and gave the stock a “buy” rating in a research note on Thursday, June 15th. Canaccord Genuity restated a “buy” rating and issued a $120.00 price target on shares of Nevro Corp. in a report on Wednesday, July 5th. BidaskClub upgraded Nevro Corp. from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $106.00 price objective on shares of Nevro Corp. in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Nevro Corp. presently has a consensus rating of “Hold” and a consensus target price of $101.25.
Nevro Corp. (NYSE:NVRO) opened at 90.77 on Tuesday. The company has a 50-day moving average price of $86.97 and a 200-day moving average price of $83.74. The firm’s market cap is $2.67 billion. Nevro Corp. has a one year low of $65.82 and a one year high of $102.70.
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 analysts’ consensus estimates of ($0.29) by ($0.11). The business 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%. Nevro Corp.’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.31) EPS. Equities analysts predict that Nevro Corp. will post ($1.16) earnings per share for the current fiscal year.
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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