Nea Management Company Lowers stake in Nevro Corp (NVRO)

Nevro Corp (NVRO) : Nea Management Company reduced its stake in Nevro Corp by 33.52% during the most recent quarter end. The investment management company now holds a total of 660,428 shares of Nevro Corp which is valued at $41.9 Million after selling 333,000 shares in Nevro Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.Nevro Corp makes up approximately 2.76% of Nea Management Company’s portfolio.

Other Hedge Funds, Including , Airain Ltd sold out all of its stake in NVRO during the most recent quarter. The investment firm sold 13,624 shares of NVRO which is valued $863,489.Tiaa Cref Investment Management reduced its stake in NVRO by selling 870 shares or 1.62% in the most recent quarter. The Hedge Fund company now holds 52,796 shares of NVRO which is valued at $3.3 Million.Schwab Charles Investment Management Inc boosted its stake in NVRO in the latest quarter, The investment management firm added 950 additional shares and now holds a total of 52,994 shares of Nevro Corp which is valued at $3.3 Million.First Mercantile Trust Co reduced its stake in NVRO by selling 390 shares or 2.62% in the most recent quarter. The Hedge Fund company now holds 14,514 shares of NVRO which is valued at $976,067. Nevro Corp makes up approx 0.12% of First Mercantile Trust Co’s portfolio.

Nevro Corp opened for trading at $63.55 and hit $65.517 on the upside on Monday, eventually ending the session at $64.97, with a gain of 2.51% or 1.59 points. The heightened volatility saw the trading volume jump to 6,00,847 shares. Company has a market cap of $1,840 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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