Cupps Capital Management Lowers stake in Nevro Corp (NVRO)

Nevro Corp (NVRO) : Cupps Capital Management reduced its stake in Nevro Corp by 33.35% during the most recent quarter end. The investment management company now holds a total of 179,370 shares of Nevro Corp which is valued at $17,558,529 after selling 89,738 shares in Nevro Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Nevro Corp makes up approximately 4.20% of Cupps Capital Management’s portfolio.

Other Hedge Funds, Including , Proshare Advisors added NVRO to its portfolio by purchasing 2,938 company shares during the most recent quarter which is valued at $287,601.Perceptive Advisors boosted its stake in NVRO in the latest quarter, The investment management firm added 16,629 additional shares and now holds a total of 365,229 shares of Nevro Corp which is valued at $35,752,267. Nevro Corp makes up approx 2.62% of Perceptive Advisors’s portfolio.Credit Suisse Ag boosted its stake in NVRO in the latest quarter, The investment management firm added 21,535 additional shares and now holds a total of 30,249 shares of Nevro Corp which is valued at $2,961,075.American Century Companies Inc boosted its stake in NVRO in the latest quarter, The investment management firm added 164,505 additional shares and now holds a total of 243,184 shares of Nevro Corp which is valued at $19,780,587. Nevro Corp makes up approx 0.02% of American Century Companies Inc’s portfolio.

Nevro Corp closed down -0.44 points or -0.46% at $95.96 with 2,80,934 shares getting traded on Monday. Post opening the session at $96.6, the shares hit an intraday low of $95.58 and an intraday high of $96.85 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Nevro Corp reported $-0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.47. The company had revenue of $55.40 million for the quarter, compared to analysts expectations of $44.98 million. The company’s revenue was up 385.5% compared to the same quarter last year.

Many Wall Street Analysts have commented on Nevro Corp. BofA/Merrill Initiated Nevro Corp on Aug 8, 2016 to “Buy”, Price Target of the shares are set at $100.Nevro Corp was Initiated by Piper Jaffray to “Overweight” on Jul 22, 2016. Nevro Corp was Initiated by Wells Fargo to “Outperform” on Jul 12, 2016.

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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