Traders Purchase Large Volume of Call Options on Nevro (NYSE:NVRO)

Nevro Corp. (NYSE:NVRO) was the target of unusually large options trading activity on Tuesday. Traders purchased 1,783 call options on the company. This is an increase of 741% compared to the average daily volume of 212 call options.

NVRO stock opened at $122.97 on Wednesday. The company has a current ratio of 7.53, a quick ratio of 6.37 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.29 billion, a PE ratio of -62.42 and a beta of 1.04. Nevro has a 1-year low of $99.54 and a 1-year high of $188.14. The business’s 50 day simple moving average is $131.08 and its 200 day simple moving average is $145.89.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Wednesday, August 4th. The medical equipment provider reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09. Nevro had a negative return on equity of 18.29% and a negative net margin of 16.68%. The firm had revenue of $102.30 million for the quarter, compared to analyst estimates of $102.83 million. During the same period in the prior year, the firm posted ($1.21) EPS. The company’s revenue for the quarter was up 81.4% on a year-over-year basis. As a group, sell-side analysts predict that Nevro will post -2.89 EPS for the current fiscal year.

A number of brokerages have recently weighed in on NVRO. SVB Leerink lowered their target price on Nevro from $210.00 to $147.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. Redburn Partners lowered Nevro from a “buy” rating to a “neutral” rating in a research report on Friday, July 9th. JMP Securities decreased their target price on Nevro from $190.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 5th. Zacks Investment Research lowered Nevro from a “hold” rating to a “sell” rating and set a $164.00 target price for the company. in a research report on Wednesday, July 7th. Finally, Robert W. Baird lowered Nevro from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $188.00 to $150.00 in a research report on Tuesday, July 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $149.17.

In other Nevro news, Director Michael F. Demane sold 6,445 shares of the stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of $179.03, for a total transaction of $1,153,848.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO D Keith Grossman purchased 7,000 shares of the stock in a transaction on Friday, August 13th. The shares were bought at an average price of $105.07 per share, for a total transaction of $735,490.00. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of Nevro during the 1st quarter valued at $53,000. First Mercantile Trust Co. bought a new stake in shares of Nevro during the 2nd quarter worth $170,000. BDO Wealth Advisors LLC bought a new stake in shares of Nevro during the 2nd quarter worth $172,000. CIBC Asset Management Inc bought a new stake in shares of Nevro during the 2nd quarter worth $212,000. Finally, Ieq Capital LLC bought a new stake in shares of Nevro during the 2nd quarter worth $231,000.

Nevro Company Profile

Nevro Corp. engages in the provision of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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