67,364 Shares in Nevro Corp (NVRO) Purchased by Frontier Capital Management Co. LLC
Frontier Capital Management Co. LLC bought a new stake in shares of Nevro Corp (NYSE:NVRO) in the first quarter, HoldingsChannel.com reports. The fund bought 67,364 shares of the medical equipment provider’s stock, valued at approximately $4,211,000.
Several other hedge funds and other institutional investors have also made changes to their positions in NVRO. Norges Bank bought a new stake in shares of Nevro during the fourth quarter valued at approximately $36,675,000. D. E. Shaw & Co. Inc. grew its position in Nevro by 225.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,316,090 shares of the medical equipment provider’s stock worth $51,183,000 after purchasing an additional 911,332 shares during the period. Partner Fund Management L.P. bought a new stake in Nevro in the 4th quarter worth approximately $21,627,000. Vanguard Group Inc. grew its position in Nevro by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,518,566 shares of the medical equipment provider’s stock worth $143,558,000 after purchasing an additional 158,826 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in Nevro in the 4th quarter worth approximately $4,721,000.
A number of equities research analysts have commented on NVRO shares. Morgan Stanley raised shares of Nevro from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $70.00 in a research report on Wednesday, March 20th. Zacks Investment Research raised shares of Nevro from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Canaccord Genuity downgraded shares of Nevro from a “buy” rating to a “hold” rating and cut their target price for the stock from $62.00 to $50.00 in a research report on Friday, May 10th. Wells Fargo & Co raised shares of Nevro from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, March 20th. Finally, BMO Capital Markets upgraded shares of Nevro from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $67.00 in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Nevro presently has an average rating of “Hold” and a consensus target price of $57.83.
Nevro (NYSE:NVRO) last issued its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($1.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.79). The business had revenue of $82.10 million for the quarter, compared to analysts’ expectations of $87.47 million. Nevro had a negative return on equity of 31.84% and a negative net margin of 19.79%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.59) EPS. As a group, equities analysts expect that Nevro Corp will post -3.69 EPS for the current fiscal year.
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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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