Arizona State Retirement System Buys 383 Shares of Nevro Corp. (NYSE:NVRO)

Arizona State Retirement System raised its stake in shares of Nevro Corp. (NYSE:NVRO – Get Rating) by 4.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,486 shares of the medical equipment provider’s stock after acquiring an additional 383 shares during the period. Arizona State Retirement System’s holdings in Nevro were worth $376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NVRO. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Nevro by 4.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,870 shares of the medical equipment provider’s stock worth $1,206,000 after acquiring an additional 997 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in Nevro during the 3rd quarter valued at approximately $6,990,000. SG Americas Securities LLC grew its holdings in Nevro by 147.1% during the 3rd quarter. SG Americas Securities LLC now owns 8,884 shares of the medical equipment provider’s stock valued at $414,000 after buying an additional 5,289 shares in the last quarter. Integral Health Asset Management LLC grew its holdings in Nevro by 27.8% during the 3rd quarter. Integral Health Asset Management LLC now owns 100,000 shares of the medical equipment provider’s stock valued at $4,660,000 after buying an additional 21,723 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in Nevro by 1.0% during the 3rd quarter. Brown Advisory Inc. now owns 643,845 shares of the medical equipment provider’s stock valued at $30,004,000 after buying an additional 6,447 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVRO. Truist Financial cut their target price on shares of Nevro from $40.00 to $32.00 in a report on Thursday. StockNews.com initiated coverage on shares of Nevro in a report on Thursday. They issued a “hold” rating for the company. Oppenheimer upgraded shares of Nevro from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, May 15th. Mizuho initiated coverage on shares of Nevro in a report on Thursday, April 13th. They set a “neutral” rating and a $40.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of Nevro from $37.00 to $34.00 in a report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.09.

Nevro Price Performance

NYSE:NVRO opened at $27.02 on Monday. The company has a quick ratio of 5.63, a current ratio of 7.15 and a debt-to-equity ratio of 0.62. Nevro Corp. has a 52 week low of $26.40 and a 52 week high of $53.34. The stock’s 50-day moving average price is $31.75 and its 200-day moving average price is $36.43. The stock has a market capitalization of $967.86 million, a PE ratio of -2,702.00 and a beta of 0.86.

Nevro (NYSE:NVRO – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The medical equipment provider reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. Nevro had a negative return on equity of 34.61% and a net margin of 0.55%. The company had revenue of $96.33 million during the quarter, compared to analysts’ expectations of $95.35 million. During the same quarter in the prior year, the firm posted ($0.98) EPS. Nevro’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Nevro Corp. will post -2.45 EPS for the current fiscal year.

Nevro Company Profile

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Nevro Corp. engages in the development of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes the senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.