Nevro Corp (NYSE:NVRO) announced its earnings results on Monday. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.24. Nevro Corp had a negative net margin of 18.91% and a negative return on equity of 14.57%. The firm had revenue of $68.40 million for the quarter, compared to the consensus estimate of $68.71 million. During the same period in the prior year, the business earned ($0.33) EPS. The company’s quarterly revenue was up 64.0% compared to the same quarter last year.
Shares of Nevro Corp (NYSE:NVRO) traded down 5.94% on Friday, hitting $72.98. The company had a trading volume of 1,324,989 shares. The firm’s market capitalization is $2.14 billion. Nevro Corp has a 12-month low of $64.39 and a 12-month high of $106.93. The firm has a 50 day moving average of $86.74 and a 200-day moving average of $86.35.
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In other news, VP Michael Enxing sold 38,500 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $91.01, for a total value of $3,503,885.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew H. Galligan sold 7,500 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $75.30, for a total value of $564,750.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 183,480 shares of company stock valued at $17,108,593. Corporate insiders own 12.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Capital Fund Management S.A. bought a new position in Nevro Corp during the third quarter worth about $2,041,000. Peregrine Capital Management LLC bought a new position in Nevro Corp during the third quarter worth about $27,311,000. Kornitzer Capital Management Inc. KS increased its position in Nevro Corp by 14.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 363,508 shares of the medical equipment provider’s stock worth $37,947,000 after buying an additional 46,600 shares during the period. Aperio Group LLC bought a new position in Nevro Corp during the third quarter worth about $246,000. Finally, UBS Asset Management Americas Inc. increased its position in Nevro Corp by 36.4% in the third quarter. UBS Asset Management Americas Inc. now owns 10,908 shares of the medical equipment provider’s stock worth $1,139,000 after buying an additional 2,908 shares during the period.
A number of equities analysts recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $108.00 price target on shares of Nevro Corp in a research report on Friday, February 24th. Zacks Investment Research lowered Nevro Corp from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Northland Securities reiterated a “buy” rating and issued a $96.00 price target on shares of Nevro Corp in a research report on Tuesday, May 9th. Leerink Swann raised their price objective on Nevro Corp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Finally, Canaccord Genuity began coverage on Nevro Corp in a research report on Thursday, March 23rd. They set a “buy” rating and a $120.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. Nevro Corp currently has a consensus rating of “Buy” and an average target price of $99.82.
Nevro Corp Company 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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