Public Sector Pension Investment Board raised its position in Nevro Corp (NYSE:NVRO) by 41.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,300 shares of the medical equipment provider’s stock after purchasing an additional 8,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Nevro were worth $3,561,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd grew its stake in Nevro by 148.6% during the fourth quarter. Altshuler Shaham Ltd now owns 276 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 165 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Nevro by 87.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 300 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 140 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Nevro in the fourth quarter valued at $35,000. Exchange Traded Concepts LLC bought a new stake in shares of Nevro in the fourth quarter valued at $83,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Nevro in the fourth quarter valued at $165,000.
In related news, CFO Andrew H. Galligan sold 17,718 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $120.11, for a total transaction of $2,128,108.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.60% of the stock is owned by insiders.
Shares of NYSE NVRO traded up $4.03 during mid-day trading on Thursday, hitting $95.33. The company had a trading volume of 626,585 shares, compared to its average volume of 759,646. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -28.20 and a beta of 0.55. Nevro Corp has a 1 year low of $54.00 and a 1 year high of $148.05. The company has a current ratio of 5.98, a quick ratio of 4.68 and a debt-to-equity ratio of 0.84. The stock’s 50-day moving average price is $121.59 and its 200-day moving average price is $107.74.
Nevro (NYSE:NVRO) last announced its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.18. The company had revenue of $114.37 million during the quarter, compared to analysts’ expectations of $110.83 million. Nevro had a negative return on equity of 49.96% and a negative net margin of 26.57%. As a group, equities research analysts forecast that Nevro Corp will post -2.19 earnings per share for the current year.
Several analysts have issued reports on the company. Canaccord Genuity upgraded Nevro from a “hold” rating to a “buy” rating and boosted their target price for the company from $120.00 to $153.00 in a research note on Wednesday, February 26th. Oppenheimer restated a “market perform” rating on shares of Nevro in a research note on Monday, January 6th. SVB Leerink boosted their target price on Nevro from $146.00 to $158.00 and gave the company a “positive” rating in a research note on Wednesday, February 26th. Citigroup assumed coverage on Nevro in a research note on Wednesday, March 4th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, UBS Group boosted their target price on Nevro from $77.00 to $84.00 and gave the company a “sell” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Nevro has an average rating of “Buy” and a consensus target price of $128.92.
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.
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