Sciencast Management LP decreased its holdings in shares of Nevro Corp. (NYSE:NVRO) by 27.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,029 shares of the medical equipment provider’s stock after selling 2,251 shares during the quarter. Sciencast Management LP’s holdings in Nevro were worth $871,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baillie Gifford & Co. bought a new position in Nevro in the 4th quarter worth about $26,000. AdvisorNet Financial Inc grew its position in Nevro by 59.4% in the 1st quarter. AdvisorNet Financial Inc now owns 204 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 76 shares during the last quarter. Bessemer Group Inc. bought a new position in Nevro in the 4th quarter worth about $73,000. Cim Investment Mangement Inc. bought a new position in Nevro in the 4th quarter worth about $202,000. Finally, CIBC Asset Management Inc bought a new position in Nevro in the 4th quarter worth about $205,000.
NVRO stock opened at $156.74 on Friday. Nevro Corp. has a 12 month low of $111.87 and a 12 month high of $188.14. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of -61.23 and a beta of 1.07. The company’s 50 day simple moving average is $153.05. The company has a current ratio of 3.00, a quick ratio of 2.65 and a debt-to-equity ratio of 0.39.
Several research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Nevro from $192.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, February 26th. SVB Leerink restated a “buy” rating on shares of Nevro in a research report on Thursday, March 4th. Finally, Canaccord Genuity increased their price objective on shares of Nevro from $217.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 6th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $199.90.
In related news, Director Shawn Mccormick sold 482 shares of the stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $149.65, for a total transaction of $72,131.30. Following the completion of the sale, the director now directly owns 7,290 shares of the company’s stock, valued at $1,090,948.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.
Nevro Company Profile
Nevro Corp., a medical device company, provides products for 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, as well as Senza II and Senza Omnia systems.
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