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.