Myriad Asset Management Ltd. Lowers Stake in Nevro Corp. (NVRO)

Myriad Asset Management Ltd. decreased its holdings in shares of Nevro Corp. (NYSE:NVRO) by 92.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 282,500 shares of the medical equipment provider’s stock after selling 3,548,100 shares during the quarter. Nevro comprises approximately 2.5% of Myriad Asset Management Ltd.’s holdings, making the stock its 9th biggest holding. Myriad Asset Management Ltd. owned approximately 0.95% of Nevro worth $25,674,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NVRO. Teachers Advisors LLC lifted its holdings in shares of Nevro by 2.0% during the 1st quarter. Teachers Advisors LLC now owns 43,608 shares of the medical equipment provider’s stock valued at $4,086,000 after acquiring an additional 873 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Nevro by 36.6% during the 2nd quarter. Bank of Montreal Can now owns 13,187 shares of the medical equipment provider’s stock valued at $982,000 after acquiring an additional 3,534 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Nevro by 412.4% during the 2nd quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 2,099 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of Nevro by 68.5% during 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 acquiring an additional 58,227 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Nevro by 12.6% during 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 acquiring an additional 11,893 shares in the last quarter.

Several equities analysts recently weighed in on the stock. Northland Securities restated a “buy” rating and set a $96.00 target price on shares of Nevro in a report on Tuesday, August 8th. Morgan Stanley boosted their price objective on shares of Nevro from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. BidaskClub upgraded shares of Nevro from a “sell” rating to a “hold” rating in a report on Saturday, October 7th. BMO Capital Markets reiterated a “buy” rating and issued a $106.00 price objective on shares of Nevro in a report on Friday, September 1st. Finally, Leerink Swann reiterated an “outperform” rating and issued a $110.00 price objective (up previously from $105.00) on shares of Nevro in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $100.00.

Shares of Nevro Corp. (NYSE NVRO) traded down $2.03 during mid-day trading on Wednesday, reaching $68.98. 848,100 shares of the company’s stock were exchanged, compared to its average volume of 508,562. Nevro Corp. has a 52-week low of $65.82 and a 52-week high of $99.63. The company has a current ratio of 8.78, a quick ratio of 6.81 and a debt-to-equity ratio of 0.59.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Monday, November 6th. The medical equipment provider reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The firm had revenue of $82.26 million for the quarter, compared to analyst estimates of $80.50 million. Nevro had a negative net margin of 14.09% and a negative return on equity of 17.27%. The firm’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS. sell-side analysts forecast that Nevro Corp. will post -1.27 EPS for the current fiscal year.

In other news, Director Wilfred E. Jaeger sold 16,467 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $90.19, for a total value of $1,485,158.73. Following the sale, the director now owns 1,518 shares in the company, valued at approximately $136,908.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael F. Demane sold 25,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $87.73, for a total transaction of $2,193,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,467 shares of company stock worth $5,576,679. Company insiders own 9.10% of the company’s stock.

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About Nevro

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.

Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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