Principal Financial Group Inc. boosted its stake in shares of Nevro Corp. (NYSE:NVRO) by 160.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275,383 shares of the medical equipment provider’s stock after buying an additional 169,683 shares during the period. Principal Financial Group Inc. owned about 0.94% of Nevro worth $25,027,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prudential Financial Inc. purchased a new position in Nevro during the 1st quarter valued at about $237,000. Teachers Advisors LLC lifted its holdings in Nevro by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 43,608 shares of the medical equipment provider’s stock worth $4,086,000 after purchasing an additional 873 shares during the last quarter. Legal & General Group Plc lifted its holdings in Nevro by 5.4% in the 1st quarter. Legal & General Group Plc now owns 8,137 shares of the medical equipment provider’s stock worth $760,000 after purchasing an additional 418 shares during the last quarter. BlackRock Inc. lifted its holdings in Nevro by 76,628.7% in the 1st quarter. BlackRock Inc. now owns 1,575,240 shares of the medical equipment provider’s stock worth $147,602,000 after purchasing an additional 1,573,187 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Nevro by 11.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 94,705 shares of the medical equipment provider’s stock worth $8,874,000 after purchasing an additional 9,405 shares during the last quarter.
Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Nevro from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Northland Securities restated a “buy” rating and issued a $96.00 target price on shares of Nevro in a research note on Tuesday, August 8th. BidaskClub lowered Nevro from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. TheStreet upgraded Nevro from a “d+” rating to a “c-” rating in a research report on Monday, November 6th. Finally, Leerink Swann restated an “outperform” rating and set a $110.00 target price (up previously from $105.00) on shares of Nevro in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Nevro presently has an average rating of “Hold” and a consensus price target of $100.00.
Nevro Corp. (NVRO) traded down $2.15 during trading hours on Wednesday, reaching $66.83. The company’s stock had a trading volume of 643,475 shares, compared to its average volume of 509,136. 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 Corp. has a 1 year low of $65.82 and a 1 year high of $99.63.
Nevro (NYSE:NVRO) last released its quarterly earnings results on Monday, November 6th. The medical equipment provider reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.02. The company had revenue of $82.26 million for the quarter, compared to analyst estimates of $80.50 million. Nevro had a negative return on equity of 17.27% and a negative net margin of 14.09%. Nevro’s revenue was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. research analysts anticipate that Nevro Corp. will post -1.27 EPS for the current year.
In other Nevro news, Director Michael F. Demane sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $89.50, for a total value of $447,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilfred E. Jaeger sold 16,467 shares of Nevro stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $90.19, for a total value of $1,485,158.73. Following the transaction, the director now owns 1,518 shares of the company’s stock, valued at $136,908.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,467 shares of company stock valued at $5,576,679. 9.10% of the stock is owned by corporate insiders.
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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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