Nevro Corp (NYSE:NVRO) saw unusually large options trading on Tuesday. Traders purchased 525 call options on the stock. This represents an increase of 950% compared to the typical volume of 50 call options.
In other news, CFO Andrew H. Galligan sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $80.10, for a total transaction of $560,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wilfred E. Jaeger sold 14,458 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $83.28, for a total value of $1,204,062.24. Following the transaction, the director now owns 1,518 shares of the company’s stock, valued at $126,419.04. The disclosure for this sale can be found here. Insiders have sold a total of 234,116 shares of company stock valued at $18,913,822 over the last 90 days. Corporate insiders own 9.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new stake in Nevro in the 4th quarter valued at approximately $900,000. Glenmede Trust Co. NA bought a new stake in Nevro in the 4th quarter valued at approximately $237,000. Macquarie Group Ltd. lifted its stake in Nevro by 40.8% in the 4th quarter. Macquarie Group Ltd. now owns 33,760 shares of the medical equipment provider’s stock valued at $2,331,000 after acquiring an additional 9,782 shares in the last quarter. Teachers Advisors LLC lifted its stake in Nevro by 49.3% in the 4th quarter. Teachers Advisors LLC now owns 180,265 shares of the medical equipment provider’s stock valued at $12,445,000 after acquiring an additional 59,505 shares in the last quarter. Finally, HBK Investments L P bought a new stake in Nevro in the 4th quarter valued at approximately $255,000.
Nevro (NYSE:NVRO) last released its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). Nevro had a negative net margin of 11.22% and a negative return on equity of 15.01%. The business had revenue of $97.96 million for the quarter, compared to the consensus estimate of $96.87 million. During the same quarter last year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. sell-side analysts anticipate that Nevro will post -0.76 earnings per share for the current year.
Several research firms have recently issued reports on NVRO. Zacks Investment Research lowered Nevro from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. ValuEngine cut Nevro from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. BidaskClub cut Nevro from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $100.00 price objective on shares of Nevro in a report on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $99.25.
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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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