Today, Principal Financial Group Inc. Sold shares of Nevro Corp (NVRO)

Today, Principal Financial Group Inc. Sold shares of Nevro Corp (NVRO)

Principal Financial Group Inc. reduced its position in Nevro Corp (NASDAQ:NVRO) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 126,103 shares of the company’s stock after selling 3,066 shares during the period. Principal Financial Group Inc. owned 0.45% of Nevro Corp worth $9,301,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its position in Nevro Corp by 40.9% in the second quarter. Essex Investment Management Co. LLC now owns 12,860 shares of the company’s stock worth $949,000 after buying an additional 3,735 shares in the last quarter. Quantbot Technologies LP acquired a new position in Nevro Corp during the second quarter worth approximately $323,000. Emerald Acquisition Ltd. acquired a new position in Nevro Corp during the second quarter worth approximately $6,949,000. First Trust Advisors LP acquired a new position in Nevro Corp during the second quarter worth approximately $2,406,000. Finally, Swiss National Bank increased its position in Nevro Corp by 32.2% in the second quarter. Swiss National Bank now owns 33,700 shares of the company’s stock worth $2,486,000 after buying an additional 8,200 shares in the last quarter.

Nevro Corp (NASDAQ:NVRO) opened at 98.90 on Monday. The company’s market capitalization is $2.82 billion. Nevro Corp has a 12-month low of $36.51 and a 12-month high of $106.93. The firm has a 50-day moving average of $97.90 and a 200 day moving average of $79.95.

Nevro Corp (NASDAQ:NVRO) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.16. The firm had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $45.11 million. The business’s revenue was up 385.5% compared to the same quarter last year. Analysts forecast that Nevro Corp will post ($1.42) EPS for the current fiscal year.

A number of equities analysts have recently commented on the stock. JMP Securities increased their price objective on shares of Nevro Corp from $90.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 9th. Bank of America Corp. started coverage on shares of Nevro Corp in a research note on Monday, August 8th. They set a “buy” rating and a $100.00 price objective for the company. William Blair started coverage on shares of Nevro Corp in a research note on Tuesday, July 19th. They issued an “outperform” rating for the company. B. Riley started coverage on shares of Nevro Corp in a research note on Wednesday, September 21st. They issued a “buy” rating and a $114.00 target price for the company. Finally, Piper Jaffray Cos. started coverage on shares of Nevro Corp in a research note on Friday, July 22nd. They issued an “overweight” rating and a $98.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $104.00.

In other Nevro Corp news, CEO Rami Elghandour sold 3,000 shares of the business’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $100.00, for a total value of $300,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew H. Galligan sold 7,500 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $97.71, for a total transaction of $732,825.00. Following the completion of the transaction, the chief financial officer now owns 30,079 shares in the company, valued at $2,939,019.09. The disclosure for this sale can be found here.

About Nevro Corp

Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain.

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