Tirschwell & Loewy Inc. increased its position in Nevro Corp (NYSE:NVRO) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,470 shares of the medical equipment provider’s stock after purchasing an additional 21,300 shares during the period. Nevro accounts for 1.4% of Tirschwell & Loewy Inc.’s portfolio, making the stock its 26th biggest position. Tirschwell & Loewy Inc. owned approximately 0.65% of Nevro worth $11,085,000 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 company. Royal Bank of Canada raised its stake in shares of Nevro by 65.0% in the first quarter. Royal Bank of Canada now owns 7,702 shares of the medical equipment provider’s stock worth $666,000 after buying an additional 3,035 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Nevro during the 2nd quarter valued at approximately $1,054,000. Canada Pension Plan Investment Board raised its stake in Nevro by 496.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 51,300 shares of the medical equipment provider’s stock valued at $4,096,000 after purchasing an additional 42,700 shares during the period. Swiss National Bank raised its stake in Nevro by 13.6% during the 2nd quarter. Swiss National Bank now owns 46,700 shares of the medical equipment provider’s stock valued at $3,729,000 after purchasing an additional 5,600 shares during the period. Finally, Rhumbline Advisers raised its stake in Nevro by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 28,525 shares of the medical equipment provider’s stock valued at $2,278,000 after purchasing an additional 856 shares during the period.
Shares of NVRO traded down $1.38 during trading hours on Wednesday, hitting $42.14. The company had a trading volume of 373,307 shares, compared to its average volume of 960,990. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -33.71 and a beta of -0.34. The company has a current ratio of 8.05, a quick ratio of 6.31 and a debt-to-equity ratio of 0.62. Nevro Corp has a one year low of $35.41 and a one year high of $94.34.
Nevro (NYSE:NVRO) last released its quarterly earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.07). The company had revenue of $95.60 million during the quarter, compared to the consensus estimate of $94.29 million. Nevro had a negative return on equity of 17.89% and a negative net margin of 11.64%. The company’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) earnings per share. On average, equities research analysts forecast that Nevro Corp will post -1.49 EPS for the current year.
NVRO has been the topic of several recent analyst reports. ValuEngine raised Nevro from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research cut Nevro from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Goldman Sachs Group cut Nevro from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $60.00 to $44.00 in a report on Friday, October 19th. JPMorgan Chase & Co. lowered Nevro from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $45.00 in a research note on Tuesday, November 6th. Finally, Wells Fargo & Co decreased their price target on Nevro from $62.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, November 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Nevro currently has an average rating of “Hold” and an average target price of $61.20.
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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