Tygh Capital Management Inc. Invests $6.64 Million in Nevro Corp. (NVRO) Stock
Tygh Capital Management Inc. acquired a new position in Nevro Corp. (NYSE:NVRO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,077 shares of the medical equipment provider’s stock, valued at approximately $6,641,000. Nevro Corp. accounts for approximately 1.3% of Tygh Capital Management Inc.’s investment portfolio, making the stock its 26th biggest position. Tygh Capital Management Inc. owned 0.25% of Nevro Corp. as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Roosevelt Investment Group Inc. bought a new position in Nevro Corp. in the 2nd quarter worth about $3,958,000. State Street Corp boosted its stake in shares of Nevro Corp. by 4.9% during the first quarter. State Street Corp now owns 461,309 shares of the medical equipment provider’s stock valued at $43,222,000 after purchasing an additional 21,558 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Nevro Corp. by 5.4% during the first quarter. Vanguard Group Inc. now owns 1,934,593 shares of the medical equipment provider’s stock valued at $181,271,000 after purchasing an additional 98,555 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Nevro Corp. by 11.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 94,705 shares of the medical equipment provider’s stock valued at $8,874,000 after purchasing an additional 9,405 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Nevro Corp. by 18.6% during the second quarter. Neuberger Berman Group LLC now owns 229,490 shares of the medical equipment provider’s stock valued at $17,081,000 after purchasing an additional 36,000 shares in the last quarter.
Shares of Nevro Corp. (NYSE:NVRO) traded up $3.76 during trading on Tuesday, hitting $88.23. 896,782 shares of the company traded hands, compared to its average volume of 310,831. 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. has a 12-month low of $65.82 and a 12-month high of $99.63.
Nevro Corp. (NYSE:NVRO) last posted its quarterly earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. Nevro Corp. had a negative net margin of 14.33% and a negative return on equity of 16.25%. The company had revenue of $82.26 million during the quarter, compared to analysts’ expectations of $80.50 million. During the same quarter in the previous year, the business posted ($0.14) EPS. The firm’s revenue was up 35.0% on a year-over-year basis. equities analysts anticipate that Nevro Corp. will post -1.2 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on NVRO shares. Zacks Investment Research upgraded shares of Nevro Corp. from a “strong sell” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Wednesday, August 2nd. Northland Securities reiterated a “buy” rating and set a $96.00 price objective on shares of Nevro Corp. in a research note on Tuesday, August 8th. BMO Capital Markets reiterated a “buy” rating and set a $106.00 price objective on shares of Nevro Corp. in a research note on Friday, September 1st. Canaccord Genuity reissued a “buy” rating and set a $120.00 target price on shares of Nevro Corp. in a research report on Sunday, October 8th. Finally, BidaskClub raised shares of Nevro Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, October 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $101.25.
In other 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael F. Demane sold 5,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $93.50, for a total transaction of $467,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,907 shares of company stock valued at $24,670,065. Company insiders own 9.10% of the company’s stock.
Nevro Corp. Company Profile
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.
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