Rhumbline Advisers Has $3.02 Million Stake in Nevro Corp. (NVRO)
Rhumbline Advisers boosted its position in shares of Nevro Corp. (NYSE:NVRO) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 33,235 shares of the medical equipment provider’s stock after acquiring an additional 1,744 shares during the quarter. Rhumbline Advisers owned about 0.11% of Nevro worth $3,020,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Nevro by 0.3% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 27,871 shares of the medical equipment provider’s stock worth $2,074,000 after acquiring an additional 85 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Nevro by 13.8% in the 2nd quarter. Prudential Financial Inc. now owns 2,878 shares of the medical equipment provider’s stock valued at $214,000 after acquiring an additional 350 shares during the period. Ameritas Investment Partners Inc. grew its stake in Nevro by 17.3% during the 2nd 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. Denver Investment Advisors LLC grew its stake in Nevro by 4.6% during the 2nd quarter. Denver Investment Advisors LLC now owns 10,162 shares of the medical equipment provider’s stock worth $756,000 after buying an additional 445 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in Nevro by 8.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 6,857 shares of the medical equipment provider’s stock worth $510,000 after acquiring an additional 559 shares during the period.
Shares of Nevro Corp. (NYSE NVRO) opened at $66.41 on Friday. The company has a current ratio of 8.78, a quick ratio of 6.81 and a debt-to-equity ratio of 0.59. Nevro Corp. has a 1 year low of $65.40 and a 1 year high of $99.63.
Nevro (NYSE:NVRO) last issued its quarterly earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. Nevro had a negative net margin of 14.09% and a negative return on equity of 17.27%. The company had revenue of $82.26 million during the quarter, compared to analysts’ expectations of $80.50 million. During the same quarter in the previous year, the company earned ($0.14) EPS. Nevro’s revenue was up 35.0% on a year-over-year basis. sell-side analysts expect that Nevro Corp. will post -1.27 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Northland Securities reiterated a “buy” rating and set a $96.00 target price on shares of Nevro in a research note on Tuesday, November 7th. Canaccord Genuity restated a “buy” rating and issued a $120.00 price target on shares of Nevro in a research report on Sunday, October 8th. BidaskClub downgraded shares of Nevro from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered shares of Nevro from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, TheStreet upgraded shares of Nevro from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $100.00.
In other news, Director Michael F. Demane sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $93.50, for a total transaction of $467,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Demane sold 25,000 shares of Nevro stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $87.73, for a total value of $2,193,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,467 shares of company stock worth $5,576,679. Insiders own 12.10% of the company’s stock.
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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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