American International Group Inc. Has $1.55 Million Stake in Nevro (NVRO)

American International Group Inc. cut its position in Nevro (NYSE:NVRO) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,916 shares of the medical equipment provider’s stock after selling 751 shares during the quarter. American International Group Inc.’s holdings in Nevro were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Nevro by 285.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 160,040 shares of the medical equipment provider’s stock valued at $11,049,000 after purchasing an additional 118,486 shares during the period. Jefferies Group LLC purchased a new position in shares of Nevro in the fourth quarter valued at $653,000. Comgest Global Investors S.A.S. purchased a new position in shares of Nevro in the fourth quarter valued at $2,720,000. Gamco Investors INC. ET AL purchased a new position in shares of Nevro in the fourth quarter valued at $414,000. Finally, Royce & Associates LP boosted its stake in shares of Nevro by 50.0% in the fourth quarter. Royce & Associates LP now owns 36,000 shares of the medical equipment provider’s stock valued at $2,485,000 after purchasing an additional 12,000 shares during the period.

Several research analysts have recently weighed in on NVRO shares. Goldman Sachs Group started coverage on shares of Nevro in a research note on Wednesday, April 4th. They issued a “neutral” rating and a $83.00 target price for the company. ValuEngine upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. JMP Securities restated an “overweight” rating and issued a $105.00 target price (down from $120.00) on shares of Nevro in a research note on Tuesday, May 8th. Zacks Investment Research upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, Wells Fargo & Co downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 8th. Two research 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’s stock. The stock currently has an average rating of “Hold” and an average price target of $98.78.

In other Nevro news, Director Wilfred E. Jaeger sold 160,542 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $80.77, for a total transaction of $12,966,977.34. Following the sale, the director now directly owns 1,518 shares of the company’s stock, valued at $122,608.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wilfred E. Jaeger sold 42,116 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $80.19, for a total transaction of $3,377,282.04. Following the sale, the director now directly owns 1,518 shares in the company, valued at $121,728.42. The disclosure for this sale can be found here. Insiders sold 209,658 shares of company stock worth $16,877,239 over the last ninety days. 6.90% of the stock is currently owned by corporate insiders.

NVRO opened at $78.69 on Friday. The firm has a market capitalization of $2.35 billion, a P/E ratio of -62.95 and a beta of -0.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.17 and a current ratio of 7.99. Nevro has a 12-month low of $65.00 and a 12-month high of $94.34.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Monday, May 7th. The medical equipment provider reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.25). The company had revenue of $87.64 million during the quarter, compared to analyst estimates of $89.32 million. Nevro had a negative net margin of 11.53% and a negative return on equity of 16.32%. The company’s revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.50) earnings per share. equities research analysts anticipate that Nevro will post -1.2 EPS for the current fiscal year.

Nevro 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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