Credit Suisse AG Has $30.96 Million Position in Nevro Corp (NVRO)

Credit Suisse AG reduced its position in shares of Nevro Corp (NYSE:NVRO) by 59.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 543,067 shares of the medical equipment provider’s stock after selling 798,314 shares during the period. Credit Suisse AG owned approximately 1.80% of Nevro worth $30,956,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVRO. BlackRock Inc. increased its holdings in Nevro by 9.9% in the second quarter. BlackRock Inc. now owns 2,947,118 shares of the medical equipment provider’s stock valued at $235,328,000 after buying an additional 265,361 shares in the last quarter. Jennison Associates LLC increased its holdings in Nevro by 22.3% in the second quarter. Jennison Associates LLC now owns 1,690,765 shares of the medical equipment provider’s stock valued at $135,008,000 after buying an additional 307,980 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Nevro by 66.0% in the second quarter. Wells Fargo & Company MN now owns 1,366,980 shares of the medical equipment provider’s stock valued at $109,153,000 after buying an additional 543,401 shares in the last quarter. Zevenbergen Capital Investments LLC increased its holdings in Nevro by 8.9% in the second quarter. Zevenbergen Capital Investments LLC now owns 667,730 shares of the medical equipment provider’s stock valued at $53,318,000 after buying an additional 54,430 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in Nevro by 1.6% in the second quarter. Artisan Partners Limited Partnership now owns 596,939 shares of the medical equipment provider’s stock valued at $47,666,000 after buying an additional 9,152 shares in the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on NVRO. UBS Group began coverage on shares of Nevro in a report on Tuesday. They issued a “sell” rating and a $35.00 target price for the company. Bank of America cut shares of Nevro from a “buy” rating to a “neutral” rating in a report on Wednesday, November 7th. Morgan Stanley lowered shares of Nevro from an “equal” rating to a “weight” rating and lowered their price target for the company from $65.00 to $43.00 in a research report on Tuesday, November 6th. BMO Capital Markets lowered 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. Finally, Canaccord Genuity lowered 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. 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 stock. The company has an average rating of “Hold” and a consensus target price of $61.20.

NVRO stock opened at $41.87 on Friday. The company has a market capitalization of $1.28 billion, a PE ratio of -33.50 and a beta of -0.29. Nevro Corp has a 12 month low of $35.41 and a 12 month high of $94.34. 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 (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 consensus estimate of ($0.30) by ($0.07). The business had revenue of $95.60 million during the quarter, compared to analyst estimates of $94.29 million. Nevro had a negative net margin of 11.64% and a negative return on equity of 17.89%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Equities analysts anticipate that Nevro Corp will post -1.49 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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