Pier Capital buys $7,342,239 stake in Nevro Corp (NVRO)

Nevro Corp (NVRO) : Pier Capital scooped up 10,760 additional shares in Nevro Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 75,005 shares of Nevro Corp which is valued at $7,342,239.Nevro Corp makes up approximately 1.25% of Pier Capital’s portfolio.

Other Hedge Funds, Including , First Republic Investment Management reduced its stake in NVRO by selling 81 shares or 2.21% in the most recent quarter. The Hedge Fund company now holds 3,583 shares of NVRO which is valued at $350,740.Ghost Tree Capital boosted its stake in NVRO in the latest quarter, The investment management firm added 5,000 additional shares and now holds a total of 80,000 shares of Nevro Corp which is valued at $7,831,200. Nevro Corp makes up approx 3.22% of Ghost Tree Capital’s portfolio.Cupps Capital Management reduced its stake in NVRO by selling 89,738 shares or 33.35% in the most recent quarter. The Hedge Fund company now holds 179,370 shares of NVRO which is valued at $17,558,529. Nevro Corp makes up approx 4.20% of Cupps Capital Management’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.Strs Ohio reduced its stake in NVRO by selling 9,366 shares or 96.9% in the most recent quarter. The Hedge Fund company now holds 300 shares of NVRO which is valued at $24,402.

Nevro Corp opened for trading at $98.75 and hit $99.78 on the upside on Wednesday, eventually ending the session at $98.61, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 523,958 shares. Company has a market cap of $2,811 M.

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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