Parametric Portfolio Associates LLC Has $1.27 Million Holdings in Nevro Corp (NYSE:NVRO)

Parametric Portfolio Associates LLC reduced its position in Nevro Corp (NYSE:NVRO) by 36.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,561 shares of the medical equipment provider’s stock after selling 11,034 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Nevro were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Northern Trust Corp increased its position in Nevro by 5.3% in the 2nd quarter. Northern Trust Corp now owns 381,354 shares of the medical equipment provider’s stock worth $24,724,000 after purchasing an additional 19,214 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Nevro by 2.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 176,781 shares of the medical equipment provider’s stock worth $11,461,000 after purchasing an additional 4,801 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Nevro in the 2nd quarter worth about $5,933,000. Allianz Asset Management GmbH increased its position in Nevro by 122.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 60,901 shares of the medical equipment provider’s stock worth $3,948,000 after purchasing an additional 33,477 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in Nevro by 10.3% in the 2nd quarter. TD Asset Management Inc. now owns 57,547 shares of the medical equipment provider’s stock worth $3,731,000 after purchasing an additional 5,362 shares during the last quarter.

NVRO has been the subject of several recent analyst reports. Wells Fargo & Co upped their price target on Nevro from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday. ValuEngine downgraded Nevro from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Canaccord Genuity upped their price target on Nevro from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. JMP Securities upped their price target on Nevro from $70.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Monday, August 12th. Finally, Leerink Swann set a $98.00 price target on Nevro and gave the stock a “buy” rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $67.17.

NVRO opened at $81.55 on Friday. The company has a market cap of $2.36 billion, a PE ratio of -49.73 and a beta of 0.21. The stock has a 50-day moving average of $85.09 and a 200-day moving average of $69.46. Nevro Corp has a 52-week low of $34.75 and a 52-week high of $91.60. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.66 and a current ratio of 6.05.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.02). Nevro had a negative return on equity of 41.07% and a negative net margin of 24.51%. The company had revenue of $93.60 million for the quarter, compared to the consensus estimate of $88.40 million. During the same quarter last year, the company posted ($0.35) EPS. The business’s revenue was down 2.6% compared to the same quarter last year. On average, research analysts predict that Nevro Corp will post -3.87 earnings per share for the current year.

About Nevro

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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