Pictet Asset Management Ltd. Trims Holdings in Nevro Corp (NYSE:NVRO)

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Pictet Asset Management Ltd. lessened its holdings in shares of Nevro Corp (NYSE:NVRO) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,454 shares of the medical equipment provider’s stock after selling 84,908 shares during the period. Pictet Asset Management Ltd.’s holdings in Nevro were worth $17,319,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quest Capital Management Inc. ADV purchased a new position in Nevro during the 3rd quarter valued at about $26,000. Quantamental Technologies LLC purchased a new position in shares of Nevro during the 2nd quarter worth approximately $75,000. Atria Investments LLC purchased a new position in shares of Nevro during the 2nd quarter worth approximately $267,000. Creative Planning purchased a new position in shares of Nevro during the 3rd quarter worth approximately $224,000. Finally, Prudential Financial Inc. purchased a new position in shares of Nevro during the 2nd quarter worth approximately $202,000.

Nevro stock opened at $111.78 on Monday. The company has a quick ratio of 4.54, a current ratio of 5.87 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3.49 billion, a P/E ratio of -68.16 and a beta of 0.21. The stock’s 50 day moving average is $94.58 and its 200 day moving average is $77.16. Nevro Corp has a twelve month low of $34.75 and a twelve month high of $114.22.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.27. The company had revenue of $100.16 million for the quarter, compared to the consensus estimate of $92.27 million. Nevro had a negative return on equity of 46.35% and a negative net margin of 25.94%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.37) EPS. As a group, equities analysts expect that Nevro Corp will post -3.74 EPS for the current year.

NVRO has been the topic of a number of research analyst reports. Oppenheimer upgraded Nevro from a “market perform” rating to an “outperform” rating and set a $106.00 target price on the stock in a report on Thursday, November 7th. Northland Securities set a $65.00 target price on Nevro and gave the stock a “hold” rating in a report on Friday, August 9th. Canaccord Genuity upped their target price on Nevro from $59.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Bank of America upped their target price on Nevro from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, ValuEngine downgraded Nevro from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Nevro presently has a consensus rating of “Buy” and an average target price of $86.10.

In related news, VP Doug Alleavitch sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.35, for a total value of $83,480.00. The disclosure for this sale can be found here. Insiders sold a total of 33,322 shares of company stock worth $3,538,891 in the last 90 days. 7.60% of the stock is currently owned by company insiders.

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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