Insider Selling: Nevro Corp (NVRO) Director Sells 139,514 Shares of Stock
Nevro Corp (NASDAQ:NVRO) Director Michael F. Demane sold 139,514 shares of the business’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $97.46, for a total transaction of $13,597,034.44. Following the transaction, the director now owns 532,425 shares in the company, valued at approximately $51,890,140.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Nevro Corp (NASDAQ:NVRO) opened at 96.08 on Friday. The company has a 50-day moving average of $97.76 and a 200-day moving average of $78.28. Nevro Corp has a 1-year low of $36.51 and a 1-year high of $106.93. The stock’s market capitalization is $2.74 billion.
Nevro Corp (NASDAQ:NVRO) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.16. The firm earned $55.40 million during the quarter, compared to analysts’ expectations of $45.11 million. The business’s quarterly revenue was up 385.5% on a year-over-year basis. On average, equities research analysts expect that Nevro Corp will post ($1.42) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. purchased a new position in shares of Nevro Corp during the second quarter worth $545,000. Bank of Montreal Can purchased a new position in shares of Nevro Corp during the second quarter worth $344,000. American Century Companies Inc. raised its position in Nevro Corp by 209.1% in the second quarter. American Century Companies Inc. now owns 243,184 shares of the company’s stock valued at $17,937,000 after buying an additional 164,505 shares in the last quarter. Essex Investment Management Co. LLC raised its position in Nevro Corp by 40.9% in the second quarter. Essex Investment Management Co. LLC now owns 12,860 shares of the company’s stock valued at $949,000 after buying an additional 3,735 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Nevro Corp by 14.8% in the second quarter. Bank of New York Mellon Corp now owns 156,441 shares of the company’s stock valued at $11,539,000 after buying an additional 20,180 shares in the last quarter.
A number of research analysts have weighed in on NVRO shares. Zacks Investment Research upgraded shares of Nevro Corp from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Wednesday. B. Riley began coverage on shares of Nevro Corp in a report on Wednesday, September 21st. They issued a “buy” rating and a $114.00 price target on the stock. BMO Capital Markets restated a “buy” rating and issued a $100.00 price target on shares of Nevro Corp in a report on Tuesday, August 9th. Bank of America Corp. began coverage on shares of Nevro Corp in a report on Monday, August 8th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Morgan Stanley restated a “buy” rating and issued a $86.00 price target on shares of Nevro Corp in a report on Wednesday, June 29th. Eleven equities research analysts have rated the stock with a buy rating, Nevro Corp has an average rating of “Buy” and an average price target of $104.00.
About Nevro Corp
Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain.
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