Artisan Partners Limited Partnership grew its stake in Nevro (NYSE:NVRO) by 38.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,787 shares of the medical equipment provider’s stock after acquiring an additional 163,864 shares during the period. Artisan Partners Limited Partnership owned 1.96% of Nevro worth $50,943,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. OppenheimerFunds Inc. lifted its position in shares of Nevro by 50.0% in the 4th quarter. OppenheimerFunds Inc. now owns 900,594 shares of the medical equipment provider’s stock worth $62,177,000 after purchasing an additional 300,064 shares during the period. Jennison Associates LLC lifted its position in shares of Nevro by 12.6% in the 4th quarter. Jennison Associates LLC now owns 1,282,874 shares of the medical equipment provider’s stock worth $88,570,000 after purchasing an additional 143,962 shares during the period. BlackRock Inc. lifted its position in shares of Nevro by 5.2% in the 4th quarter. BlackRock Inc. now owns 2,616,753 shares of the medical equipment provider’s stock worth $180,662,000 after purchasing an additional 130,320 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of Nevro by 285.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 160,040 shares of the medical equipment provider’s stock worth $11,049,000 after purchasing an additional 118,486 shares during the period. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Nevro in the 1st quarter worth approximately $6,240,000.
NVRO has been the subject of several research reports. ValuEngine cut shares of Nevro from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Nevro from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. Goldman Sachs Group initiated coverage on shares of Nevro in a research report on Wednesday, April 4th. They issued a “neutral” rating and a $83.00 price target for the company. JMP Securities reaffirmed an “overweight” rating and issued a $105.00 price target (down previously from $120.00) on shares of Nevro in a research report on Tuesday, May 8th. Finally, Wells Fargo & Co cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $98.78.
In related news, CFO Andrew H. Galligan sold 7,000 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $76.14, for a total transaction of $532,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilfred E. Jaeger sold 14,458 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $83.28, for a total transaction of $1,204,062.24. Following the sale, the director now directly owns 1,518 shares of the company’s stock, valued at approximately $126,419.04. The disclosure for this sale can be found here. Insiders have sold 241,116 shares of company stock valued at $19,446,802 in the last three months. 6.90% of the stock is currently owned by corporate insiders.
NYSE:NVRO opened at $75.67 on Friday. Nevro has a 52 week low of $65.00 and a 52 week high of $94.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.99 and a quick ratio of 6.17. The company has a market cap of $2.22 billion, a P/E ratio of -60.54 and a beta of -0.52.
Nevro (NYSE:NVRO) last posted its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). Nevro had a negative net margin of 11.53% and a negative return on equity of 16.32%. The firm had revenue of $97.96 million for the quarter, compared to analysts’ expectations of $96.87 million. During the same period in the previous year, the company earned ($0.34) EPS. The company’s revenue was up 38.9% on a year-over-year basis. equities analysts anticipate that Nevro will post -1.2 EPS for the current fiscal year.
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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