UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 566,462 Shares of Nevro Corp. (NYSE:NVRO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Nevro Corp. (NYSE:NVRO) by 130.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,000 shares of the medical equipment provider’s stock after acquiring an additional 566,462 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 2.68% of Nevro worth $5,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BNP Paribas Financial Markets increased its position in Nevro by 171.3% during the third quarter. BNP Paribas Financial Markets now owns 135,145 shares of the medical equipment provider’s stock worth $755,000 after buying an additional 85,324 shares during the last quarter. Quantbot Technologies LP increased its position in Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 13,381 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Nevro by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock worth $1,698,000 after buying an additional 11,369 shares during the last quarter. Intech Investment Management LLC acquired a new position in Nevro during the third quarter worth approximately $69,000. Finally, Assenagon Asset Management S.A. increased its position in Nevro by 27.6% during the third quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock worth $5,195,000 after buying an additional 200,885 shares during the last quarter. Institutional investors own 95.52% of the company’s stock.

Nevro Trading Down 0.6 %

Shares of NVRO stock opened at $4.33 on Wednesday. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock has a market cap of $162.06 million, a P/E ratio of -2.29 and a beta of 0.84. The stock has a 50 day simple moving average of $4.80 and a 200 day simple moving average of $6.57. Nevro Corp. has a 1 year low of $3.95 and a 1 year high of $22.64.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.40. The business had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.65) earnings per share. On average, research analysts predict that Nevro Corp. will post -2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVRO has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Citigroup decreased their target price on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Canaccord Genuity Group decreased their target price on Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.25.

About Nevro

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.