Gabelli Funds LLC increased its stake in Nevro Corp (NYSE:NVRO) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,500 shares of the medical equipment provider’s stock after purchasing an additional 12,000 shares during the period. Gabelli Funds LLC owned approximately 0.52% of Nevro worth $6,125,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its position in Nevro by 24.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 20,200 shares of the medical equipment provider’s stock valued at $786,000 after acquiring an additional 4,000 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Nevro during the fourth quarter valued at approximately $113,000. Cerebellum GP LLC bought a new position in Nevro during the fourth quarter valued at approximately $177,000. Vanguard Group Inc grew its position in Nevro by 6.7% during the third quarter. Vanguard Group Inc now owns 2,518,566 shares of the medical equipment provider’s stock valued at $143,558,000 after acquiring an additional 158,826 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in Nevro by 58.2% during the third quarter. Federated Investors Inc. PA now owns 489,108 shares of the medical equipment provider’s stock valued at $27,879,000 after acquiring an additional 180,008 shares during the last quarter.
Shares of Nevro stock opened at $48.21 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.31 and a current ratio of 8.05. Nevro Corp has a 52-week low of $34.75 and a 52-week high of $94.34.
Nevro (NYSE:NVRO) last issued its earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.07). Nevro had a negative return on equity of 17.89% and a negative net margin of 11.64%. The firm had revenue of $95.60 million during the quarter, compared to the consensus estimate of $94.29 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, sell-side analysts predict that Nevro Corp will post -1.49 earnings per share for the current year.
A number of research analysts have commented on NVRO shares. Goldman Sachs Group cut shares of Nevro from a “neutral” rating to a “sell” rating and reduced their price target for the company from $60.00 to $44.00 in a research report on Friday, October 19th. JPMorgan Chase & Co. cut shares of Nevro from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $77.00 to $45.00 in a research report on Tuesday, November 6th. Wells Fargo & Co reduced their price target on shares of Nevro from $62.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 6th. Canaccord Genuity reduced their price target on shares of Nevro from $80.00 to $63.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Finally, BMO Capital Markets reduced their price target on shares of Nevro from $76.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $58.00.
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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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