First Trust Advisors LP Buys Shares of 21,918 Nevro Corp. (NVRO)
First Trust Advisors LP bought a new stake in shares of Nevro Corp. (NYSE:NVRO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,918 shares of the medical equipment provider’s stock, valued at approximately $1,631,000. First Trust Advisors LP owned about 0.07% of Nevro Corp. at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Nevro Corp. by 118.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the medical equipment provider’s stock valued at $182,000 after purchasing an additional 1,055 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Nevro Corp. during the 1st quarter valued at $194,000. SG Americas Securities LLC increased its position in shares of Nevro Corp. by 32.4% during the 1st quarter. SG Americas Securities LLC now owns 2,214 shares of the medical equipment provider’s stock valued at $207,000 after purchasing an additional 542 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Nevro Corp. during the 1st quarter valued at $237,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Nevro Corp. during the 1st quarter valued at $239,000.
In other news, CFO Andrew H. Galligan sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $82.31, for a total value of $576,170.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael F. Demane sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $89.50, for a total value of $447,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,440 shares of company stock valued at $22,259,907. 12.10% of the stock is owned by corporate insiders.
Nevro Corp. (NYSE NVRO) opened at 87.88 on Friday. Nevro Corp. has a 52 week low of $65.82 and a 52 week high of $106.93. The company’s market cap is $2.59 billion. The firm has a 50-day moving average price of $85.38 and a 200 day moving average price of $84.23.
Nevro Corp. (NYSE:NVRO) last released its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). Nevro Corp. had a negative return on equity of 16.25% and a negative net margin of 14.33%. The business had revenue of $78.02 million for the quarter, compared to analysts’ expectations of $77.75 million. During the same quarter in the prior year, the business posted ($0.31) EPS. The business’s revenue for the quarter was up 40.8% compared to the same quarter last year. Analysts expect that Nevro Corp. will post ($1.16) EPS for the current fiscal year.
Several equities research analysts have recently issued reports on NVRO shares. Zacks Investment Research lowered Nevro Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. BMO Capital Markets reaffirmed a “buy” rating and set a $106.00 target price on shares of Nevro Corp. in a research report on Friday, September 1st. BidaskClub raised Nevro Corp. from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. ValuEngine lowered Nevro Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $102.00 price objective on shares of Nevro Corp. in a report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Nevro Corp. presently has a consensus rating of “Hold” and an average price target of $101.25.
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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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