Macquarie Group Ltd. Lowers Holdings in Nevro Corp. (NVRO)
Macquarie Group Ltd. lowered its position in shares of Nevro Corp. (NYSE:NVRO) by 6.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 23,978 shares of the medical equipment provider’s stock after selling 1,644 shares during the quarter. Macquarie Group Ltd. owned about 0.08% of Nevro worth $2,179,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Advisors LLC lifted its holdings in shares of Nevro by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 43,608 shares of the medical equipment provider’s stock valued at $4,086,000 after buying an additional 873 shares during the period. Bank of Montreal Can lifted its holdings in shares of Nevro by 36.6% in the 2nd quarter. Bank of Montreal Can now owns 13,187 shares of the medical equipment provider’s stock valued at $982,000 after buying an additional 3,534 shares during the period. US Bancorp DE lifted its holdings in shares of Nevro by 412.4% in the 2nd quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 2,099 shares during the period. Pictet Asset Management Ltd. lifted its holdings in shares of Nevro by 68.5% in the 2nd quarter. Pictet Asset Management Ltd. now owns 143,254 shares of the medical equipment provider’s stock valued at $9,860,000 after buying an additional 58,227 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Nevro by 12.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 106,598 shares of the medical equipment provider’s stock valued at $7,935,000 after buying an additional 11,893 shares during the period.
In other Nevro news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Demane sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $89.50, for a total value of $447,500.00. The disclosure for this sale can be found here. Insiders sold a total of 63,467 shares of company stock valued at $5,576,679 in the last ninety days. 9.10% of the stock is currently owned by insiders.
Nevro Corp. (NYSE:NVRO) traded down $2.03 during midday trading on Wednesday, reaching $68.98. The company had a trading volume of 848,100 shares, compared to its average volume of 508,562. Nevro Corp. has a 12 month low of $65.82 and a 12 month high of $99.63. 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 (NYSE:NVRO) last released its quarterly earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The company had revenue of $82.26 million during the quarter, compared to analysts’ expectations of $80.50 million. Nevro had a negative return on equity of 17.27% and a negative net margin of 14.09%. Nevro’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) EPS. equities research analysts expect that Nevro Corp. will post -1.27 EPS for the current year.
NVRO has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Nevro from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Northland Securities reissued a “buy” rating and issued a $96.00 price objective on shares of Nevro in a report on Tuesday, November 7th. Canaccord Genuity reissued a “buy” rating and issued a $120.00 price objective on shares of Nevro in a report on Sunday, October 8th. BidaskClub cut Nevro from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research cut Nevro from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.00.
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Nevro Company 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.
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