AQR Capital Management LLC Lowers Position in Nevro Corp. (NVRO)
AQR Capital Management LLC reduced its stake in shares of Nevro Corp. (NYSE:NVRO) by 31.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,386 shares of the medical equipment provider’s stock after selling 5,249 shares during the period. AQR Capital Management LLC’s holdings in Nevro Corp. were worth $1,067,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in NVRO. BlackRock Inc. increased its position in Nevro Corp. by 76,628.7% in the first quarter. BlackRock Inc. now owns 1,575,240 shares of the medical equipment provider’s stock valued at $147,602,000 after buying an additional 1,573,187 shares in the last quarter. Victory Capital Management Inc. bought a new position in Nevro Corp. during the first quarter valued at approximately $26,784,000. Perceptive Advisors LLC bought a new position in Nevro Corp. during the first quarter valued at approximately $20,360,000. OppenheimerFunds Inc. increased its position in Nevro Corp. by 28.5% in the first quarter. OppenheimerFunds Inc. now owns 770,708 shares of the medical equipment provider’s stock valued at $72,215,000 after buying an additional 170,708 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in Nevro Corp. by 24,799.1% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 159,354 shares of the medical equipment provider’s stock valued at $14,931,000 after buying an additional 158,714 shares in the last quarter.
Shares of Nevro Corp. (NYSE:NVRO) traded up 5.38% during midday trading on Tuesday, hitting $87.11. 300,175 shares of the stock were exchanged. The stock’s 50-day moving average price is $80.08 and its 200-day moving average price is $85.48. The firm’s market capitalization is $2.55 billion. Nevro Corp. has a 1-year low of $65.82 and a 1-year high of $106.93.
Nevro Corp. (NYSE:NVRO) last announced its quarterly earnings data on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by $0.11. Nevro Corp. had a negative return on equity of 14.50% and a negative net margin of 14.49%. The firm had revenue of $78.02 million during the quarter, compared to analysts’ expectations of $77.75 million. During the same period last year, the business posted ($0.31) EPS. The company’s revenue was up 40.8% compared to the same quarter last year. On average, analysts forecast that Nevro Corp. will post ($1.08) EPS for the current year.
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NVRO has been the topic of several research reports. Zacks Investment Research downgraded shares of Nevro Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Northland Securities reiterated a “buy” rating and issued a $96.00 price objective on shares of Nevro Corp. in a report on Tuesday, May 9th. ValuEngine downgraded shares of Nevro Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 price objective on shares of Nevro Corp. in a report on Wednesday, July 5th. Finally, BidaskClub upgraded shares of Nevro Corp. from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $103.10.
In related news, CFO Andrew H. Galligan sold 7,500 shares of Nevro Corp. stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $75.30, for a total value of $564,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.10% of the company’s stock.
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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