GAM Holding AG Sells 40,300 Shares of Nevro Corp (NVRO)

GAM Holding AG trimmed its stake in Nevro Corp (NYSE:NVRO) by 58.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,200 shares of the medical equipment provider’s stock after selling 40,300 shares during the period. GAM Holding AG owned about 0.09% of Nevro worth $1,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVRO. Wells Fargo & Company MN grew its position in shares of Nevro by 66.0% during the second quarter. Wells Fargo & Company MN now owns 1,366,980 shares of the medical equipment provider’s stock worth $109,153,000 after acquiring an additional 543,401 shares during the last quarter. First Trust Advisors LP grew its position in shares of Nevro by 572.4% during the second quarter. First Trust Advisors LP now owns 22,211 shares of the medical equipment provider’s stock worth $1,774,000 after acquiring an additional 18,908 shares during the last quarter. State of Wisconsin Investment Board grew its position in shares of Nevro by 50.8% during the second quarter. State of Wisconsin Investment Board now owns 108,600 shares of the medical equipment provider’s stock worth $8,672,000 after acquiring an additional 36,600 shares during the last quarter. Tirschwell & Loewy Inc. grew its position in shares of Nevro by 2.6% during the second quarter. Tirschwell & Loewy Inc. now owns 173,170 shares of the medical equipment provider’s stock worth $13,828,000 after acquiring an additional 4,365 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Nevro by 3.1% during the second quarter. Rhumbline Advisers now owns 28,525 shares of the medical equipment provider’s stock worth $2,278,000 after acquiring an additional 856 shares during the last quarter.

NYSE:NVRO opened at $42.14 on Thursday. Nevro Corp has a 1-year low of $35.41 and a 1-year high of $94.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.31 and a current ratio of 8.05. The firm has a market capitalization of $1.27 billion, a P/E ratio of -33.71 and a beta of -0.34.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 5th. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.07). Nevro had a negative net margin of 11.64% and a negative return on equity of 17.89%. The firm had revenue of $95.60 million during the quarter, compared to analysts’ expectations of $94.29 million. During the same quarter last year, the business earned ($0.21) earnings per share. The business’s quarterly revenue was up 16.2% on a year-over-year basis. Analysts forecast that Nevro Corp will post -1.49 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on NVRO. Zacks Investment Research upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. UBS Group initiated coverage on shares of Nevro in a research report on Tuesday, November 27th. They issued a “sell” rating and a $35.00 price objective on the stock. Canaccord Genuity lowered their price objective on shares of Nevro from $80.00 to $63.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Morgan Stanley lowered shares of Nevro from an “equal” rating to a “weight” rating and lowered their price objective for the company from $65.00 to $43.00 in a research report on Tuesday, November 6th. Finally, Bank of America lowered shares of Nevro from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.20.

TRADEMARK VIOLATION NOTICE: “GAM Holding AG Sells 40,300 Shares of Nevro Corp (NVRO)” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/12/06/gam-holding-ag-sells-40300-shares-of-nevro-corp-nvro.html.

Nevro Company Profile

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.

Recommended Story: Retained Earnings

Want to see what other hedge funds are holding NVRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nevro Corp (NYSE:NVRO).

Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply