Stock Traders Purchase High Volume of Call Options on Nevro (NYSE:NVRO)

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Nevro Corp. (NYSE:NVRO) saw some unusual options trading activity on Thursday. Stock investors purchased 2,552 call options on the company. This is an increase of 1,466% compared to the typical volume of 163 call options.

In related news, Director Michael F. Demane sold 21,432 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $150.35, for a total transaction of $3,222,301.20. Also, insider Niamh Louise Pellegrini sold 750 shares of Nevro stock in a transaction on Thursday, December 10th. The shares were sold at an average price of $161.21, for a total value of $120,907.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,749 shares of company stock valued at $3,906,616. 7.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of NVRO. Point72 Hong Kong Ltd purchased a new stake in shares of Nevro in the 2nd quarter worth $43,000. Harvest Fund Management Co. Ltd grew its holdings in Nevro by 50.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 680 shares of the medical equipment provider’s stock valued at $96,000 after purchasing an additional 229 shares during the period. Nisa Investment Advisors LLC increased its position in Nevro by 266.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the medical equipment provider’s stock worth $153,000 after buying an additional 800 shares in the last quarter. ETRADE Capital Management LLC bought a new position in shares of Nevro in the second quarter worth about $208,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Nevro in the third quarter worth about $243,000.

Shares of NYSE:NVRO opened at $163.53 on Friday. The stock’s 50-day simple moving average is $171.03 and its two-hundred day simple moving average is $147.14. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -60.12 and a beta of 0.98. Nevro has a 52-week low of $65.05 and a 52-week high of $188.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.75 and a current ratio of 3.10.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Thursday, November 5th. The medical equipment provider reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.30. The firm had revenue of $108.46 million for the quarter, compared to analysts’ expectations of $104.00 million. Nevro had a negative net margin of 24.46% and a negative return on equity of 30.25%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.58) EPS. As a group, equities analysts forecast that Nevro will post -2.61 earnings per share for the current fiscal year.

Several brokerages recently commented on NVRO. Guggenheim increased their price objective on shares of Nevro from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, December 31st. Wells Fargo & Company increased their price target on shares of Nevro from $177.00 to $215.00 and gave the company an “overweight” rating in a report on Monday. OTR Global upgraded shares of Nevro to a “positive” rating in a report on Wednesday, October 21st. BidaskClub downgraded Nevro from a “buy” rating to a “hold” rating in a research note on Wednesday, December 30th. Finally, JMP Securities restated an “outperform” rating and issued a $190.00 price target (up previously from $150.00) on shares of Nevro in a research note on Wednesday, November 11th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $171.23.

About Nevro

Nevro Corp., a medical device company, provides products for the 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.

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