Nevro Corp. (NYSE:NVRO) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC decreased its holdings in shares of Nevro Corp. (NYSE:NVRO) by 99.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,591 shares of the medical equipment provider’s stock after selling 1,911,553 shares during the quarter. Fred Alger Management LLC’s holdings in Nevro were worth $93,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in shares of Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares during the period. Intech Investment Management LLC purchased a new position in Nevro during the third quarter worth about $69,000. SG Americas Securities LLC acquired a new stake in shares of Nevro during the third quarter valued at about $71,000. Quantbot Technologies LP raised its stake in shares of Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after acquiring an additional 13,381 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 8,300 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NVRO shares. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Citigroup cut their price objective on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.10.

Nevro Trading Up 0.4 %

NYSE NVRO opened at $4.60 on Monday. Nevro Corp. has a 52 week low of $3.95 and a 52 week high of $22.64. The firm has a 50 day moving average of $4.97 and a two-hundred day moving average of $6.86. The stock has a market capitalization of $172.36 million, a PE ratio of -2.43 and a beta of 0.93. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last posted its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.40. The firm had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. Nevro’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.65) earnings per share. As a group, research analysts expect that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Nevro Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.