Nevro Corp. (NVRO) Shares Bought by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. increased its stake in Nevro Corp. (NYSE:NVRO) by 41.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 201,992 shares of the medical equipment provider’s stock after purchasing an additional 58,738 shares during the period. Pictet Asset Management Ltd. owned approximately 0.69% of Nevro Corp. worth $18,357,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Nevro Corp. by 17.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $181,000 after buying an additional 358 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Nevro Corp. during the 2nd quarter worth about $190,000. US Bancorp DE boosted its stake in shares of Nevro Corp. by 412.4% during the 2nd quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 2,099 shares during the last quarter. Inspirion Wealth Advisors LLC acquired a new position in shares of Nevro Corp. during the 2nd quarter worth about $205,000. Finally, Prudential Financial Inc. boosted its stake in shares of Nevro Corp. by 13.8% during the 2nd quarter. Prudential Financial Inc. now owns 2,878 shares of the medical equipment provider’s stock worth $214,000 after buying an additional 350 shares during the last quarter.
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In related news, CFO Andrew H. Galligan sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $82.31, for a total value of $576,170.00. 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 25,255 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $82.40, for a total transaction of $2,081,012.00. The disclosure for this sale can be found here. Insiders sold a total of 290,907 shares of company stock valued at $24,670,065 over the last quarter. 9.10% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Nevro Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Canaccord Genuity restated a “buy” rating and set a $120.00 price objective on shares of Nevro Corp. in a research note on Sunday, October 8th. BidaskClub upgraded shares of Nevro Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, October 7th. Northland Securities restated a “buy” rating and set a $96.00 price objective on shares of Nevro Corp. in a research note on Tuesday, August 8th. Finally, BMO Capital Markets restated a “buy” rating and set a $106.00 price objective on shares of Nevro Corp. in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $101.25.
Shares of Nevro Corp. (NYSE NVRO) opened at $84.47 on Monday. Nevro Corp. has a one year low of $65.82 and a one year high of $99.63. The company has a quick ratio of 8.73, a current ratio of 11.07 and a debt-to-equity ratio of 0.59.
Nevro Corp. (NYSE:NVRO) last issued its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.11). Nevro Corp. had a negative net margin of 14.33% and a negative return on equity of 16.25%. The firm had revenue of $78.02 million during the quarter, compared to analyst estimates of $77.75 million. During the same quarter last year, the business posted ($0.31) earnings per share. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. sell-side analysts expect that Nevro Corp. will post -1.2 EPS for the current fiscal year.
Nevro Corp. 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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