First Trust Advisors LP Invests $1.63 Million in Nevro Corp. (NYSE:NVRO)

First Trust Advisors LP acquired a new position in shares of Nevro Corp. (NYSE:NVRO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 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. as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial For Lutherans increased its holdings in Nevro Corp. by 4.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 200,230 shares of the medical equipment provider’s stock worth $18,762,000 after purchasing an additional 7,960 shares during the last quarter. State Street Corp boosted its position in Nevro Corp. by 4.9% during the 1st quarter. State Street Corp now owns 461,309 shares of the medical equipment provider’s stock valued at $43,222,000 after purchasing an additional 21,558 shares during the period. Gotham Asset Management LLC acquired a new position in Nevro Corp. during the 1st quarter valued at approximately $931,000. BlueCrest Capital Management Ltd acquired a new position in Nevro Corp. during the 1st quarter valued at approximately $1,040,000. Finally, Vanguard Group Inc. boosted its position in Nevro Corp. by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,934,593 shares of the medical equipment provider’s stock valued at $181,271,000 after purchasing an additional 98,555 shares during the period.

Nevro Corp. (NYSE NVRO) opened at 87.70 on Friday. The firm’s market cap is $2.58 billion. Nevro Corp. has a 12-month low of $65.82 and a 12-month high of $106.93. The firm has a 50-day moving average price of $85.46 and a 200 day moving average price of $83.96.

Nevro Corp. (NYSE:NVRO) last posted its quarterly earnings data on Monday, August 7th. The medical equipment provider reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.11). The firm 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 company’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) EPS. Equities research analysts forecast that Nevro Corp. will post ($1.16) EPS for the current year.

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A number of research analysts recently issued reports on the company. BMO Capital Markets restated a “buy” rating and set a $106.00 price objective on shares of Nevro Corp. in a research report on Friday, September 1st. Zacks Investment Research lowered Nevro Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Northland Securities reissued a “buy” rating and issued a $96.00 price objective on shares of Nevro Corp. in a research note on Tuesday, August 8th. Morgan Stanley boosted their price objective on Nevro Corp. from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Finally, BidaskClub lowered Nevro Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $101.25.

In other news, Director Wilfred E. Jaeger sold 79,657 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $82.74, for a total transaction of $6,590,820.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew H. Galligan sold 7,000 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders sold 280,907 shares of company stock valued at $23,745,065. Company insiders own 12.10% of the company’s stock.

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.

Institutional Ownership by Quarter for Nevro Corp. (NYSE:NVRO)

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