Nevro Corp (NYSE:NVRO) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in Nevro Corp (NYSE:NVRO) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,672 shares of the medical equipment provider’s stock after selling 346 shares during the quarter. Rhumbline Advisers owned about 0.13% of Nevro worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Several other large investors have also made changes to their positions in NVRO. Price T Rowe Associates Inc. MD grew its holdings in shares of Nevro by 91.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,078,635 shares of the medical equipment provider’s stock valued at $199,588,000 after acquiring an additional 1,470,807 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Nevro by 4.0% during the second quarter. Vanguard Group Inc. now owns 2,670,677 shares of the medical equipment provider’s stock worth $173,140,000 after acquiring an additional 102,183 shares in the last quarter. BlackRock Inc. lifted its position in shares of Nevro by 1.2% during the second quarter. BlackRock Inc. now owns 2,583,530 shares of the medical equipment provider’s stock worth $167,491,000 after acquiring an additional 29,637 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Nevro by 11.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,067,400 shares of the medical equipment provider’s stock worth $134,029,000 after acquiring an additional 216,680 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Nevro by 316.2% during the second quarter. Invesco Ltd. now owns 1,970,969 shares of the medical equipment provider’s stock worth $127,778,000 after acquiring an additional 1,497,455 shares in the last quarter.

In other Nevro news, CFO Andrew H. Galligan sold 18,522 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.70, for a total value of $1,920,731.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Doug Alleavitch sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders sold 33,322 shares of company stock worth $3,538,891 over the last three months. 7.60% of the stock is owned by insiders.

NVRO has been the topic of several recent research reports. Leerink Swann set a $98.00 target price on Nevro and gave the stock a “buy” rating in a research report on Friday, August 23rd. Oppenheimer upgraded Nevro from a “market perform” rating to an “outperform” rating and set a $106.00 price objective on the stock in a research report on Thursday, November 7th. Bank of America increased their price objective on Nevro from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Morgan Stanley set a $76.00 price objective on Nevro and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity increased their target price on Nevro from $59.00 to $88.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Nevro has a consensus rating of “Buy” and a consensus price target of $86.10.

Shares of NYSE:NVRO opened at $111.77 on Tuesday. The stock’s 50-day moving average price is $96.44 and its 200-day moving average price is $77.94. Nevro Corp has a 12-month low of $34.75 and a 12-month high of $114.22. The stock has a market capitalization of $3.47 billion, a P/E ratio of -68.15 and a beta of 0.30. The company has a current ratio of 5.87, a quick ratio of 4.54 and a debt-to-equity ratio of 0.91.

Nevro (NYSE:NVRO) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.27. The company had revenue of $100.16 million for the quarter, compared to analysts’ expectations of $92.27 million. Nevro had a negative return on equity of 46.35% and a negative net margin of 25.94%. Nevro’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned ($0.37) earnings per share. As a group, research analysts predict that Nevro Corp will post -3.74 EPS for the current year.

About Nevro

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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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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