Insider Buying: Nevro Corp (NYSE:NVRO) Director Buys 1,675 Shares of Stock

Nevro Corp (NYSE:NVRO) Director Kevin C. Oboyle acquired 1,675 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $60.00 per share, for a total transaction of $100,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

NYSE NVRO traded up $0.26 during mid-day trading on Monday, hitting $65.09. The stock had a trading volume of 237,200 shares, compared to its average volume of 617,194. Nevro Corp has a 52-week low of $34.75 and a 52-week high of $75.98. The firm has a market cap of $1.98 billion, a P/E ratio of -39.69 and a beta of 0.29. The stock has a 50 day moving average price of $61.74. The company has a current ratio of 6.30, a quick ratio of 4.87 and a debt-to-equity ratio of 0.83.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($1.45) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.79). The company had revenue of $82.10 million for the quarter, compared to analysts’ expectations of $87.47 million. Nevro had a negative return on equity of 31.84% and a negative net margin of 19.79%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.59) EPS. Sell-side analysts expect that Nevro Corp will post -3.83 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its position in shares of Nevro by 64.5% in the fourth quarter. Advisor Group Inc. now owns 921 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 361 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Nevro by 3.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,679 shares of the medical equipment provider’s stock valued at $610,000 after acquiring an additional 525 shares during the last quarter. Trillium Asset Management LLC boosted its holdings in Nevro by 8.1% in the first quarter. Trillium Asset Management LLC now owns 9,792 shares of the medical equipment provider’s stock valued at $612,000 after acquiring an additional 735 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in Nevro by 27.3% in the first quarter. Marshall Wace North America L.P. now owns 4,390 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 941 shares during the last quarter. Finally, Bellevue Group AG boosted its holdings in Nevro by 1.3% in the fourth quarter. Bellevue Group AG now owns 81,438 shares of the medical equipment provider’s stock valued at $3,167,000 after acquiring an additional 1,023 shares during the last quarter.

NVRO has been the subject of a number of recent research reports. ValuEngine raised Nevro from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Zacks Investment Research raised Nevro from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 14th. Wells Fargo & Co reduced their price target on Nevro from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Morgan Stanley reduced their price target on Nevro from $70.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, JMP Securities reduced their price target on Nevro from $80.00 to $70.00 and set a “market outperform” rating for the company in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $57.83.

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.

Recommended Story: What is a conference call?

Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.