Western Standard LLC Makes New $5.47 Million Investment in Nevro Corp. (NYSE:NVRO)

Western Standard LLC bought a new stake in shares of Nevro Corp. (NYSE:NVRO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 978,981 shares of the medical equipment provider's stock, valued at approximately $5,473,000. Nevro makes up approximately 5.1% of Western Standard LLC's portfolio, making the stock its 5th biggest position. Western Standard LLC owned approximately 2.61% of Nevro as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVRO. Assenagon Asset Management S.A. raised its position in shares of Nevro by 490.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider's stock worth $6,134,000 after acquiring an additional 605,134 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Nevro by 130.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider's stock worth $5,590,000 after purchasing an additional 566,462 shares in the last quarter. Engaged Capital LLC lifted its position in Nevro by 29.5% during the third 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 during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Nevro by 50.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider's stock valued at $4,096,000 after buying an additional 246,979 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Nevro by 21.4% during 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 in the last quarter. Hedge funds and other institutional investors own 95.52% of the company's stock.

Nevro Stock Performance

Shares of NVRO stock traded up $0.11 during trading hours on Friday, reaching $4.18. The company had a trading volume of 291,444 shares, compared to its average volume of 566,145. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The business has a fifty day moving average price of $4.86 and a 200-day moving average price of $6.73. Nevro Corp. has a one year low of $3.95 and a one year high of $22.64. The firm has a market cap of $156.62 million, a PE ratio of -2.15 and a beta of 0.84.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NVRO shares. Wells Fargo & Company assumed coverage on shares of Nevro in a research report on Tuesday. They set an "equal weight" rating and a $5.00 price target for the company. Canaccord Genuity Group dropped their price target on Nevro from $8.00 to $7.00 and set a "hold" rating on the stock in a research report on Tuesday, November 12th. Wolfe Research raised Nevro from an "underperform" rating to a "peer perform" rating in a research report on Thursday, August 8th. Citigroup dropped their target price on Nevro from $6.89 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, October 1st. Finally, Robert W. Baird increased their target price on Nevro from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.55.

Nevro 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.