Gabelli Funds LLC Has $8.91 Million Position in Nevro Corp (NVRO)

Gabelli Funds LLC decreased its position in shares of Nevro Corp (NYSE:NVRO) by 9.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 142,500 shares of the medical equipment provider’s stock after selling 15,000 shares during the quarter. Gabelli Funds LLC’s holdings in Nevro were worth $8,908,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its stake in shares of Nevro by 64.5% during the 4th quarter. Advisor Group Inc. now owns 921 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 361 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Nevro by 3.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,679 shares of the medical equipment provider’s stock worth $610,000 after purchasing an additional 525 shares in the last quarter. Bellevue Group AG lifted its stake in Nevro by 1.3% in the 4th quarter. Bellevue Group AG now owns 81,438 shares of the medical equipment provider’s stock worth $3,167,000 after purchasing an additional 1,023 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Nevro in the 4th quarter worth $113,000. Finally, Legal & General Group Plc lifted its stake in Nevro by 31.2% in the 4th quarter. Legal & General Group Plc now owns 12,886 shares of the medical equipment provider’s stock worth $502,000 after purchasing an additional 3,065 shares in the last quarter.

Shares of NYSE NVRO opened at $60.20 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.64 and a current ratio of 7.11. The stock has a market cap of $1.91 billion, a PE ratio of -36.71 and a beta of 0.18. Nevro Corp has a 12-month low of $34.75 and a 12-month high of $86.75.

Nevro (NYSE:NVRO) last announced its earnings results on Thursday, May 9th. The medical equipment provider reported ($1.45) earnings per share (EPS) for the quarter, missing the 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 net margin of 19.79% and a negative return on equity of 30.83%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.59) earnings per share. As a group, sell-side analysts expect that Nevro Corp will post -2.31 EPS for the current year.

NVRO has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Nevro from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $41.00 to $70.00 in a research note on Wednesday, March 20th. Canaccord Genuity cut shares of Nevro from a “buy” rating to a “hold” rating and decreased their price target for the stock from $62.00 to $50.00 in a research note on Friday. Wells Fargo & Co upgraded shares of Nevro from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Wednesday, March 20th. BMO Capital Markets upgraded shares of Nevro from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $46.00 to $67.00 in a research note on Tuesday, March 19th. Finally, Bank of America upgraded shares of Nevro from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $70.00 in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $58.25.

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Nevro Company Profile

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.

Further Reading: Systematic Risk and Investors

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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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