BB&T Securities LLC raised its position in shares of Nevro Corp (NYSE:NVRO) by 20.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,043 shares of the medical equipment provider’s stock after buying an additional 2,170 shares during the period. BB&T Securities LLC’s holdings in Nevro were worth $1,119,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Quest Capital Management Inc. ADV purchased a new stake in Nevro during the third quarter valued at about $26,000. Moody Aldrich Partners LLC increased its holdings in shares of Nevro by 2.9% in the 2nd quarter. Moody Aldrich Partners LLC now owns 15,981 shares of the medical equipment provider’s stock valued at $1,036,000 after purchasing an additional 456 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Nevro by 11.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,949 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 1,019 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Nevro in the 2nd quarter valued at about $75,000. Finally, Trillium Asset Management LLC increased its holdings in shares of Nevro by 13.2% in the 2nd quarter. Trillium Asset Management LLC now owns 11,080 shares of the medical equipment provider’s stock valued at $718,000 after purchasing an additional 1,288 shares during the period.
In related news, VP Doug Alleavitch sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.60% of the company’s stock.
NYSE:NVRO opened at $105.59 on Friday. The stock’s 50 day moving average price is $85.49 and its 200 day moving average price is $72.60. Nevro Corp has a 52 week low of $34.75 and a 52 week high of $108.20. The company has a market capitalization of $2.69 billion, a P/E ratio of -64.38 and a beta of 0.21. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.66 and a current ratio of 6.05.
Nevro (NYSE:NVRO) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.27. Nevro had a negative return on equity of 41.07% and a negative net margin of 24.51%. The firm had revenue of $100.16 million for the quarter, compared to the consensus estimate of $92.27 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Nevro Corp will post -3.99 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on NVRO. Canaccord Genuity upped their target price on Nevro from $59.00 to $88.00 and gave the company a “hold” rating in a report on Thursday. ValuEngine downgraded Nevro from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Oppenheimer upgraded Nevro from a “market perform” rating to an “outperform” rating and set a $106.00 target price on the stock in a report on Thursday. Zacks Investment Research upgraded Nevro from a “sell” rating to a “hold” rating and set a $67.00 target price on the stock in a report on Tuesday, August 13th. Finally, JMP Securities upped their target price on Nevro to $115.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $83.33.
Nevro Company Profile
Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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