Alliancebernstein L.P. Has $11.33 Million Holdings in Nevro Corp (NVRO)

Alliancebernstein L.P. cut its stake in shares of Nevro Corp (NYSE:NVRO) by 84.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 198,827 shares of the medical equipment provider’s stock after selling 1,117,761 shares during the quarter. Alliancebernstein L.P. owned approximately 0.66% of Nevro worth $11,333,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NVRO. BlackRock Inc. raised its holdings in shares of 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 during the last quarter. Wells Fargo & Company MN raised its holdings in shares of 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 during the last quarter. Zevenbergen Capital Investments LLC raised its holdings in shares of 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 during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of 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 during the last quarter. Finally, FMR LLC raised its holdings in shares of Nevro by 48.7% in the second quarter. FMR LLC now owns 583,000 shares of the medical equipment provider’s stock valued at $46,553,000 after buying an additional 191,000 shares during the last quarter.

Shares of NVRO stock opened at $41.45 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 8.05 and a quick ratio of 6.31. The stock has a market capitalization of $1.27 billion, a P/E ratio of -33.16 and a beta of -0.34. Nevro Corp has a 12 month low of $35.41 and a 12 month high of $94.34.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Monday, November 5th. The medical equipment provider reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.07). The firm had revenue of $95.60 million during the quarter, compared to analyst estimates of $94.29 million. Nevro had a negative return on equity of 17.89% and a negative net margin of 11.64%. Nevro’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Equities analysts anticipate that Nevro Corp will post -1.49 earnings per share for the current fiscal year.

NVRO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Nevro from an “overweight” rating to a “neutral” rating and cut their price target for the company from $77.00 to $45.00 in a report on Tuesday, November 6th. UBS Group assumed coverage on Nevro in a report on Tuesday, November 27th. They issued a “sell” rating and a $35.00 price target for the company. BMO Capital Markets lowered their price objective on Nevro from $76.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Wells Fargo & Co lowered their price objective on Nevro from $62.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, November 6th. Finally, Canaccord Genuity lowered their price objective on Nevro from $80.00 to $63.00 and set an “in-line” rating for the company in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $61.20.

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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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