Artemis Investment Management LLP Buys Shares of 63,243 Nevro Corp. (NVRO)

Artemis Investment Management LLP bought a new stake in shares of Nevro Corp. (NYSE:NVRO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 63,243 shares of the medical equipment provider’s stock, valued at approximately $5,749,000. Artemis Investment Management LLP owned about 0.21% of Nevro Corp. as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Hardman Johnston Global Advisors LLC raised its position in shares of Nevro Corp. by 1.1% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 99,540 shares of the medical equipment provider’s stock valued at $9,046,000 after acquiring an additional 1,050 shares during the last quarter. Fortaleza Asset Management Inc. raised its position in shares of Nevro Corp. by 47.7% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 2,585 shares of the medical equipment provider’s stock valued at $235,000 after acquiring an additional 835 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of Nevro Corp. by 41.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 201,992 shares of the medical equipment provider’s stock valued at $18,357,000 after acquiring an additional 58,738 shares during the last quarter. Tirschwell & Loewy Inc. raised its position in shares of Nevro Corp. by 113.2% during the 3rd quarter. Tirschwell & Loewy Inc. now owns 96,625 shares of the medical equipment provider’s stock valued at $8,781,000 after acquiring an additional 51,295 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Nevro Corp. by 1,982.3% during the 3rd quarter. Strs Ohio now owns 8,329 shares of the medical equipment provider’s stock valued at $756,000 after acquiring an additional 7,929 shares during the last quarter.

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In related news, CFO Andrew H. Galligan sold 7,000 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wilfred E. Jaeger sold 25,255 shares of the company’s stock in a transaction on Monday, August 14th. The stock was 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. Over the last ninety days, insiders sold 290,907 shares of company stock valued at $24,670,065. Company insiders own 12.10% of the company’s stock.

NVRO has been the subject of several recent research reports. BidaskClub upgraded shares of Nevro Corp. from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of Nevro Corp. from a “strong sell” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Wednesday, August 2nd. Morgan Stanley upped their target price on shares of Nevro Corp. from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Northland Securities reissued a “buy” rating and issued a $96.00 price target on shares of Nevro Corp. in a report on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $106.00 price target on shares of Nevro Corp. in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $101.25.

Shares of Nevro Corp. (NVRO) traded down $4.52 during mid-day trading on Friday, hitting $84.47. 632,380 shares of the stock traded hands, compared to its average volume of 255,251. The company has a debt-to-equity ratio of 0.59, a current ratio of 11.07 and a quick ratio of 8.73.

Nevro Corp. (NYSE:NVRO) last announced its quarterly earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the 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 period last year, the firm earned ($0.31) EPS. Nevro Corp.’s quarterly revenue was up 40.8% on a year-over-year basis. sell-side analysts expect that Nevro Corp. will post -1.2 earnings per share for the current fiscal year.

About Nevro Corp.

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 Corp. (NYSE:NVRO)

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