Thornburg Investment Management Inc. Buys 27,765 Shares of Nevro Corp (NVRO)

Thornburg Investment Management Inc. boosted its stake in shares of Nevro Corp (NYSE:NVRO) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,052 shares of the medical equipment provider’s stock after purchasing an additional 27,765 shares during the quarter. Thornburg Investment Management Inc. owned about 0.68% of Nevro worth $11,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Xact Kapitalforvaltning AB boosted its holdings in Nevro by 23.1% in the second quarter. Xact Kapitalforvaltning AB now owns 4,258 shares of the medical equipment provider’s stock worth $340,000 after acquiring an additional 800 shares in the last quarter. Rhumbline Advisers boosted its holdings in Nevro by 3.1% in 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 in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Nevro by 69.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $210,000 after acquiring an additional 999 shares in the last quarter. UBS Group AG boosted its holdings in Nevro by 38.0% in the first quarter. UBS Group AG now owns 5,479 shares of the medical equipment provider’s stock worth $474,000 after acquiring an additional 1,509 shares in the last quarter. Finally, Gradient Investments LLC boosted its holdings in Nevro by 38.5% in the second quarter. Gradient Investments LLC now owns 9,195 shares of the medical equipment provider’s stock worth $734,000 after acquiring an additional 2,555 shares in the last quarter.

Nevro stock opened at $41.60 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 8.05 and a quick ratio of 6.29. Nevro Corp has a 52 week low of $35.41 and a 52 week high of $94.34. The stock has a market cap of $1.15 billion, a P/E ratio of -33.28 and a beta of -0.29.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.07). Nevro had a negative return on equity of 17.89% and a negative net margin of 11.64%. The firm had revenue of $95.60 million for the quarter, compared to analyst estimates of $94.29 million. During the same period last year, the firm earned ($0.21) EPS. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities analysts anticipate that Nevro Corp will post -1.42 EPS for the current fiscal year.

Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Nevro from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Goldman Sachs Group downgraded Nevro from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $60.00 to $44.00 in a report on Friday, October 19th. Morgan Stanley decreased their target price on Nevro from $88.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, July 17th. Bank of America downgraded Nevro from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Co decreased their target price on Nevro from $84.00 to $62.00 and set a “market perform” rating for the company in a report on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.11.

WARNING: “Thornburg Investment Management Inc. Buys 27,765 Shares of Nevro Corp (NVRO)” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://sportsperspectives.com/2018/11/08/thornburg-investment-management-inc-buys-27765-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.

Featured Article: The benefits and drawbacks of dollar cost averaging

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