Cupps Capital Management Lowers stake in Nevro Corp (NVRO)

Nevro Corp (NVRO) : Cupps Capital Management reduced its stake in Nevro Corp by 16.38% during the most recent quarter end. The investment management company now holds a total of 269,108 shares of Nevro Corp which is valued at $17.1 Million after selling 52,707 shares in Nevro Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.Nevro Corp makes up approximately 3.37% of Cupps Capital Management’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans added NVRO to its portfolio by purchasing 107,800 company shares during the most recent quarter which is valued at $6.8 Million. Nevro Corp makes up approx 0.03% of Thrivent Financial For Lutherans’s portfolio. Finemark National Bank Trust added NVRO to its portfolio by purchasing 13 company shares during the most recent quarter which is valued at $824.Blackrock Fund Advisors reduced its stake in NVRO by selling 7,012 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 445,266 shares of NVRO which is valued at $28.2 Million. Nevro Corp makes up approx 0.01% of Blackrock Fund Advisors’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in NVRO in the latest quarter, The investment management firm added 690 additional shares and now holds a total of 8,870 shares of Nevro Corp which is valued at $554,020. Quantbot Technologies Lp sold out all of its stake in NVRO during the most recent quarter. The investment firm sold 307 shares of NVRO which is valued $20,646.

Nevro Corp opened for trading at $63.74 and hit $65.07 on the upside on Friday, eventually ending the session at $64.88, with a gain of 1.96% or 1.25 points. The heightened volatility saw the trading volume jump to 4,32,643 shares. Company has a market cap of $1,837,531 M.

On the company’s financial health, Nevro Corp reported $-0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.65. The company had revenue of $41.65 million for the quarter, compared to analysts expectations of $34.72 million. The company’s revenue was up 331.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.57 EPS.

Nevro Corp. is a medical device company. The Company manufactures and markets active implantable medical devices for the treatment of neurological disorders initially focusing on the treatment of chronic pain. The Company developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is the only spinal cord stimulation (SCS) system that delivers its HF10 therapy. The Company’s Senza system creates electrical impulses from two hertz to 10 kilohertz including its HF10 therapy which allows for pain relief without paresthesia. HF10 therapy delivers waveforms at 10 kilohertz pulse rate with a statistically driven and clinically verified programming algorithm. Senza consists of leads a trial stimulator an implantable pulse generator (IPG) surgical tools a clinician laptop programmer a patient remote control and a mobile charger.

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