Tirschwell & Loewy Inc. boosted its position in Nevro Corp. (NYSE:NVRO) by 113.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,625 shares of the medical equipment provider’s stock after acquiring an additional 51,295 shares during the period. Tirschwell & Loewy Inc. owned 0.33% of Nevro Corp. worth $8,781,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its holdings in Nevro Corp. by 17.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $181,000 after buying an additional 358 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Nevro Corp. during the second quarter valued at approximately $190,000. US Bancorp DE grew its position in Nevro Corp. by 412.4% during the second quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 2,099 shares during the period. Inspirion Wealth Advisors LLC bought a new stake in Nevro Corp. during the second quarter valued at approximately $205,000. Finally, SG Americas Securities LLC grew its position in Nevro Corp. by 32.4% during the first quarter. SG Americas Securities LLC now owns 2,214 shares of the medical equipment provider’s stock valued at $207,000 after buying an additional 542 shares during the period.
NVRO has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Nevro Corp. from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Northland Securities reaffirmed a “buy” rating and set a $96.00 price target on shares of Nevro Corp. in a research note on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and set a $120.00 price target on shares of Nevro Corp. in a research note on Sunday, October 8th. Zacks Investment Research downgraded shares of Nevro Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, TheStreet raised shares of Nevro Corp. from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Nevro Corp. currently has an average rating of “Hold” and a consensus price target of $100.00.
In related news, Director Michael F. Demane sold 5,000 shares of Nevro Corp. stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $93.50, for a total value of $467,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wilfred E. Jaeger sold 16,467 shares of Nevro Corp. stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $90.19, for a total transaction of $1,485,158.73. Following the sale, the director now directly owns 1,518 shares in the company, valued at approximately $136,908.42. The disclosure for this sale can be found here. Insiders have sold a total of 290,907 shares of company stock valued at $24,670,065 over the last three months. 12.10% of the stock is currently owned by insiders.
Nevro Corp. (NVRO) traded down $2.72 during mid-day trading on Friday, hitting $74.77. 523,300 shares of the company’s stock traded hands, compared to its average volume of 514,189. The company has a quick ratio of 8.73, a current ratio of 8.78 and a debt-to-equity ratio of 0.59. Nevro Corp. has a 1-year low of $65.82 and a 1-year high of $99.63.
Nevro Corp. (NYSE:NVRO) last announced its quarterly earnings data on Monday, November 6th. The medical equipment provider reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. Nevro Corp. had a negative net margin of 14.09% and a negative return on equity of 17.27%. The firm had revenue of $82.26 million during the quarter, compared to analyst estimates of $80.50 million. During the same period last year, the firm posted ($0.14) EPS. Nevro Corp.’s revenue was up 35.0% on a year-over-year basis. analysts predict that Nevro Corp. will post -1.27 earnings per share for the current year.
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Nevro Corp. Profile
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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