Public Sector Pension Investment Board Buys 8,900 Shares of Nevro Corp (NYSE:NVRO)

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Public Sector Pension Investment Board increased its stake in Nevro Corp (NYSE:NVRO) by 41.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 owned approximately 0.10% of Nevro worth $3,561,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NVRO. Atria Investments LLC raised its stake in shares of Nevro by 2.0% during the fourth quarter. Atria Investments LLC now owns 4,010 shares of the medical equipment provider’s stock valued at $471,000 after acquiring an additional 79 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Nevro by 87.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 300 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 140 shares during the last quarter. Altshuler Shaham Ltd grew its stake in Nevro by 148.6% during the 4th quarter. Altshuler Shaham Ltd now owns 276 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 165 shares in the last quarter. Amalgamated Bank grew its stake in Nevro by 4.6% during the 4th quarter. Amalgamated Bank now owns 5,463 shares of the medical equipment provider’s stock valued at $642,000 after acquiring an additional 241 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Nevro during the 4th quarter valued at about $35,000.

NVRO has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Nevro from $125.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. SVB Leerink lifted their target price on shares of Nevro from $146.00 to $158.00 and gave the company a “positive” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Nevro from $96.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. UBS Group boosted their target price on shares of Nevro from $77.00 to $84.00 and gave the stock a “sell” rating in a research report on Wednesday, January 15th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Nevro in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $128.92.

In related news, CFO Andrew H. Galligan sold 17,718 shares of Nevro stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $120.11, for a total value of $2,128,108.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.60% of the company’s stock.

NVRO stock traded up $4.03 during midday trading on Thursday, hitting $95.33. The stock had a trading volume of 626,585 shares, compared to its average volume of 759,646. The firm 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 52 week low of $54.00 and a 52 week high of $148.05. The stock has a 50-day simple moving average of $121.59 and a 200 day simple moving average of $107.74. The company has a current ratio of 5.98, a quick ratio of 4.68 and a debt-to-equity ratio of 0.84.

Nevro (NYSE:NVRO) last issued its earnings results on Tuesday, February 25th. The medical equipment provider reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.18. Nevro had a negative return on equity of 49.96% and a negative net margin of 26.57%. The firm had revenue of $114.37 million during the quarter, compared to analysts’ expectations of $110.83 million. On average, equities analysts forecast that Nevro Corp will post -2.19 EPS for the current year.

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.

Further Reading: Green Investing

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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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