Orbimed Advisors LLC Reduces Position in Nevro Corp. (NVRO)

Orbimed Advisors LLC lowered its holdings in Nevro Corp. (NYSE:NVRO) by 6.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 494,900 shares of the medical equipment provider’s stock after selling 31,400 shares during the period. Orbimed Advisors LLC owned approximately 1.67% of Nevro worth $44,977,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Nevro by 2.0% in the second quarter. Vanguard Group Inc. now owns 1,973,146 shares of the medical equipment provider’s stock valued at $146,862,000 after purchasing an additional 38,553 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Nevro by 13.5% in the second quarter. BlackRock Inc. now owns 1,787,896 shares of the medical equipment provider’s stock valued at $133,073,000 after purchasing an additional 212,656 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Nevro by 8.8% in the second quarter. Franklin Resources Inc. now owns 1,541,934 shares of the medical equipment provider’s stock valued at $114,748,000 after purchasing an additional 125,135 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Nevro in the second quarter valued at approximately $105,837,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Nevro by 2.2% in the second quarter. Alliancebernstein L.P. now owns 1,249,524 shares of the medical equipment provider’s stock valued at $93,002,000 after purchasing an additional 27,143 shares in the last quarter.

Several research analysts have commented on NVRO shares. Northland Securities reiterated a “buy” rating and set a $96.00 price target on shares of Nevro in a report on Tuesday, November 7th. BidaskClub upgraded shares of Nevro from a “sell” rating to a “hold” rating in a report on Saturday, October 7th. BMO Capital Markets reiterated a “buy” rating and set a $106.00 price target on shares of Nevro in a report on Friday, September 1st. Leerink Swann reiterated an “outperform” rating and set a $110.00 price target (up previously from $105.00) on shares of Nevro in a report on Tuesday, November 7th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $120.00 price target on shares of Nevro in a report on Sunday, October 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Nevro presently has a consensus rating of “Hold” and a consensus price target of $100.00.

Nevro Corp. (NYSE NVRO) traded down $1.60 during midday trading on Friday, reaching $66.41. 571,187 shares of the company’s stock traded hands, compared to its average volume of 479,595. The company has a quick ratio of 6.81, a current ratio of 8.78 and a debt-to-equity ratio of 0.59. Nevro Corp. has a 12 month low of $65.40 and a 12 month high of $99.63.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Monday, November 6th. The medical equipment provider reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.02. The business had revenue of $82.26 million during the quarter, compared to the consensus estimate of $80.50 million. Nevro had a negative net margin of 14.09% and a negative return on equity of 17.27%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. research analysts expect that Nevro Corp. will post -1.27 EPS for the current fiscal year.

In other news, Director Michael F. Demane sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $89.50, for a total transaction of $447,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew H. Galligan sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $75.11, for a total transaction of $525,770.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,467 shares of company stock valued at $5,576,679 in the last 90 days. Insiders own 12.10% of the company’s stock.

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Nevro Profile

Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.

Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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