Fred Alger Management LLC Has $93,000 Holdings in Nevro Corp. (NYSE:NVRO)

Fred Alger Management LLC trimmed its holdings in Nevro Corp. (NYSE:NVRO - Free Report) by 99.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,591 shares of the medical equipment provider's stock after selling 1,911,553 shares during the period. Fred Alger Management LLC's holdings in Nevro were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of Nevro by 490.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider's stock valued at $6,134,000 after acquiring an additional 605,134 shares during the period. Point72 Asset Management L.P. lifted its position in Nevro by 3,446.5% during the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider's stock worth $1,284,000 after purchasing an additional 148,200 shares during the period. Acadian Asset Management LLC grew its stake in Nevro by 154.1% during the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider's stock worth $2,029,000 after buying an additional 146,276 shares in the last quarter. Millennium Management LLC increased its holdings in Nevro by 21.4% in the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider's stock valued at $8,054,000 after buying an additional 168,573 shares during the period. Finally, Engaged Capital LLC raised its position in shares of Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider's stock valued at $13,656,000 after buying an additional 557,000 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Nevro from a "sell" rating to a "hold" rating in a research note on Tuesday, November 19th. Morgan Stanley lowered Nevro from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $9.00 to $4.00 in a research note on Monday. Citigroup dropped their price objective on Nevro from $6.89 to $6.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. Canaccord Genuity Group decreased their target price on Nevro from $8.00 to $7.00 and set a "hold" rating on the stock in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company cut shares of Nevro from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat, Nevro has a consensus rating of "Hold" and a consensus target price of $8.60.

Nevro Trading Down 6.8 %

NYSE:NVRO traded down $0.31 on Monday, reaching $4.29. 535,937 shares of the stock traded hands, compared to its average volume of 567,991. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. Nevro Corp. has a 1-year low of $3.95 and a 1-year high of $22.64. The company's 50 day moving average is $4.94 and its 200-day moving average is $6.82. The firm has a market capitalization of $160.56 million, a price-to-earnings ratio of -2.27 and a beta of 0.93.

Nevro (NYSE:NVRO - Get Free Report) last announced its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same quarter last year, the firm earned ($0.65) earnings per share. Nevro's quarterly revenue was down 7.0% on a year-over-year basis. Equities research analysts anticipate that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Nevro Company Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.