Mpm Asset Management Lowers stake in Nevro Corp (NVRO)

Nevro Corp (NVRO) : Mpm Asset Management reduced its stake in Nevro Corp by 51.72% during the most recent quarter end. The investment management company now holds a total of 72,413 shares of Nevro Corp which is valued at $7,038,544 after selling 77,587 shares in Nevro Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Nevro Corp makes up approximately 1.74% of Mpm Asset Management’s portfolio.

Other Hedge Funds, Including , Neuberger Berman Group boosted its stake in NVRO in the latest quarter, The investment management firm added 46,080 additional shares and now holds a total of 264,490 shares of Nevro Corp which is valued at $21,299,380. Nevro Corp makes up approx 0.03% of Neuberger Berman Group’s portfolio.California Public Employees Retirement System boosted its stake in NVRO in the latest quarter, The investment management firm added 3,600 additional shares and now holds a total of 13,300 shares of Nevro Corp which is valued at $1,090,866.Jennison Associates reduced its stake in NVRO by selling 108,588 shares or 12.25% in the most recent quarter. The Hedge Fund company now holds 778,079 shares of NVRO which is valued at $63,818,040. Nevro Corp makes up approx 0.07% of Jennison Associates’s portfolio.Hamilton Lane Advisors reduced its stake in NVRO by selling 30,200 shares or 50.79% in the most recent quarter. The Hedge Fund company now holds 29,260 shares of NVRO which is valued at $2,321,781. Nevro Corp makes up approx 1.09% of Hamilton Lane Advisors’s portfolio.

Nevro Corp closed down -0.37 points or -0.38% at $97.52 with 7,93,448 shares getting traded on Monday. Post opening the session at $97.73, the shares hit an intraday low of $96.52 and an intraday high of $98.91 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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