Amundi Pioneer Asset Management Inc. grew its stake in shares of Nevro Corp (NYSE:NVRO) by 32.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 212,640 shares of the medical equipment provider’s stock after acquiring an additional 52,600 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Nevro were worth $18,430,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Jefferies Group LLC bought a new stake in shares of Nevro during the 4th quarter worth about $653,000. Royce & Associates LP raised its position in shares of Nevro by 50.0% during the 4th quarter. Royce & Associates LP now owns 36,000 shares of the medical equipment provider’s stock worth $2,485,000 after buying an additional 12,000 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Nevro during the 4th quarter worth about $237,000. Alliancebernstein L.P. grew its stake in shares of Nevro by 2.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,516,300 shares of the medical equipment provider’s stock worth $104,685,000 after purchasing an additional 42,823 shares during the last quarter. Finally, Elk Creek Partners LLC grew its stake in shares of Nevro by 45.8% in the 1st quarter. Elk Creek Partners LLC now owns 188,509 shares of the medical equipment provider’s stock worth $16,338,000 after purchasing an additional 59,185 shares during the last quarter.
Several equities analysts have recently issued reports on the stock. JMP Securities reaffirmed an “overweight” rating and issued a $105.00 price objective (down previously from $120.00) on shares of Nevro in a research note on Tuesday, May 8th. Northland Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 8th. Wells Fargo & Co cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 8th. Zacks Investment Research raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, Goldman Sachs Group assumed coverage on shares of Nevro in a research note on Wednesday, April 4th. They issued a “neutral” rating and a $83.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $98.78.
Shares of Nevro opened at $83.13 on Friday, according to Marketbeat Ratings. The company has a market capitalization of $2.55 billion, a PE ratio of -66.50 and a beta of -0.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.17 and a current ratio of 7.99. Nevro Corp has a 12-month low of $65.00 and a 12-month high of $94.34.
Nevro (NYSE:NVRO) last released its earnings results on Monday, May 7th. The medical equipment provider reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.25). The firm had revenue of $87.64 million during the quarter, compared to analysts’ expectations of $89.32 million. Nevro had a negative return on equity of 16.32% and a negative net margin of 11.53%. The business’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the business earned ($0.50) earnings per share. research analysts forecast that Nevro Corp will post -1.21 EPS for the current fiscal year.
In other news, CFO Andrew H. Galligan sold 7,000 shares of Nevro stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $76.14, for a total value of $532,980.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.90% of the company’s stock.
Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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