Tudor Investment Corp ET AL Grows Stake in Nevro Corp. (NVRO)
Tudor Investment Corp ET AL lifted its position in Nevro Corp. (NYSE:NVRO) by 347.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,685 shares of the medical equipment provider’s stock after buying an additional 16,059 shares during the period. Tudor Investment Corp ET AL owned approximately 0.07% of Nevro Corp. worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in NVRO. Swiss National Bank grew its holdings in shares of Nevro Corp. by 1.4% in the first quarter. Swiss National Bank now owns 35,700 shares of the medical equipment provider’s stock worth $3,345,000 after acquiring an additional 500 shares during the period. UBS Asset Management Americas Inc. increased its position in Nevro Corp. by 171.4% during the first quarter. UBS Asset Management Americas Inc. now owns 11,397 shares of the medical equipment provider’s stock valued at $1,068,000 after acquiring an additional 7,197 shares during the last quarter. Sei Investments Co. increased its position in Nevro Corp. by 477.5% during the first quarter. Sei Investments Co. now owns 8,916 shares of the medical equipment provider’s stock valued at $836,000 after acquiring an additional 7,372 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Nevro Corp. by 50.8% during the first quarter. Parametric Portfolio Associates LLC now owns 57,729 shares of the medical equipment provider’s stock valued at $5,409,000 after acquiring an additional 19,453 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in Nevro Corp. during the first quarter valued at $194,000.
Nevro Corp. (NYSE:NVRO) traded down 0.82% during trading on Tuesday, reaching $90.03. The company had a trading volume of 20,071 shares. The stock has a 50 day moving average price of $86.97 and a 200 day moving average price of $83.74. Nevro Corp. has a 52 week low of $65.82 and a 52 week high of $102.70. The firm’s market capitalization is $2.65 billion.
Nevro Corp. (NYSE:NVRO) last released its quarterly earnings data on Monday, August 7th. The medical equipment provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The business had revenue of $78.02 million during 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 last year, the company earned ($0.31) earnings per share. Analysts predict that Nevro Corp. will post ($1.16) earnings per share for the current year.
In other news, CFO Andrew H. Galligan sold 7,000 shares of Nevro Corp. stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $82.31, for a total transaction of $576,170.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Demane sold 25,000 shares of Nevro Corp. stock in a transaction that occurred 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. In the last three months, 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 a number of recent research reports. Zacks Investment Research downgraded Nevro Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BMO Capital Markets restated a “buy” rating and set a $106.00 price target on shares of Nevro Corp. in a research note on Friday, September 1st. BidaskClub raised shares of Nevro Corp. from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $102.00 price target on shares of Nevro Corp. in a research 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 research report on Thursday, June 15th. 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 stock. Nevro Corp. presently has a consensus rating of “Hold” and a consensus price target of $101.25.
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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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