Healthcare-Focused Broadfin Capital’s Notable Moves Include Cardiovascular Systems, Nevro Corp & Others

#2 Nevro Corp (NYSE:NVRO)

– Shares Owned by Broadfin Capital (as of March 31): 667,900

– Value of Holding (as of March 31): $37.58 Million

On the other hand, Broadfin significantly cut its stake in Nevro Corp (NYSE:NVRO), by 44%, but also initiated a ‘Call’ position in the $2 billion medical device company underlying 300,000 shares. In its financial results for the first quarter the Redwood-based company delivered a loss of $0.33 per share, which bested estimates by $0.32. Quarterly revenue of $41.7 million was also ahead of expectations by $6.97 million.  With some 895,000 shares of Nevro Corp (NYSE:NVRO) valued at $50.35 million as of the end of March, Clifford Fox’s Columbus Circle Investors is the largest stockholder of the company within our database.

#1 Novadaq Technologies Inc. (NASDAQ:NVDQ)

– Shares Owned by Broadfin Capital (as of March 31): 5.47 Million

– Value of Holding (as of March 31): $60.61 Million

Following a hike of 48%, Broadfin’s Novadaq Technologies Inc. (NASDAQ:NVDQ) holding accounted for over 9.7% of the medical imaging systems company’s outstanding stock. So far this year, Novadaq’s shares have suffered from a lack of investor enthusiasm and are down by 19% despite the company beating top and bottom line estimates in its financial results for the first quarter. The loss per share during this period stood at $0.14 while revenue amounted to $17.7 million and represented an increase of 51.3% on a year-over-year basis. Point72 Asset Management held 267,400 shares of Novadaq Technologies Inc. (NASDAQ:NVDQ) at the end of March.

Disclosure: None