Russell Investments Group Ltd. Acquires 9,854 Shares of Nevro Corp. (NYSE:NVRO)

Russell Investments Group Ltd. grew its holdings in Nevro Corp. (NYSE:NVRO) by 184.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,194 shares of the medical equipment provider’s stock after acquiring an additional 9,854 shares during the quarter. Russell Investments Group Ltd.’s holdings in Nevro were worth $2,518,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NVRO. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Nevro in the first quarter valued at about $1,525,000. Dimensional Fund Advisors LP boosted its position in shares of Nevro by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,454 shares of the medical equipment provider’s stock valued at $3,887,000 after acquiring an additional 2,019 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Nevro by 241.1% in the first quarter. Envestnet Asset Management Inc. now owns 45,978 shares of the medical equipment provider’s stock valued at $6,414,000 after acquiring an additional 32,497 shares during the period. Altium Capital Management LP acquired a new position in Nevro in the first quarter valued at about $5,287,000. Finally, Arizona State Retirement System raised its stake in Nevro by 0.7% in the first quarter. Arizona State Retirement System now owns 9,521 shares of the medical equipment provider’s stock valued at $1,328,000 after purchasing an additional 68 shares in the last quarter.

NVRO has been the subject of a number of analyst reports. Zacks Investment Research downgraded Nevro from a “hold” rating to a “sell” rating and set a $164.00 price target for the company. in a research note on Wednesday, July 7th. Canaccord Genuity downgraded Nevro from a “buy” rating to a “hold” rating and set a $112.00 price target for the company. in a research note on Thursday, August 5th. Morgan Stanley dropped their price target on Nevro from $199.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, August 5th. Truist Securities dropped their price target on Nevro from $205.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, August 5th. Finally, Robert W. Baird downgraded Nevro from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $188.00 to $150.00 in a research note on Tuesday, July 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $149.17.

In related news, Director Michael F. Demane sold 6,445 shares of the company’s stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of $179.03, for a total value of $1,153,848.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO D Keith Grossman bought 7,000 shares of Nevro stock in a transaction that occurred on Friday, August 13th. The stock was bought at an average price of $105.07 per share, for a total transaction of $735,490.00. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

Nevro stock opened at $122.97 on Wednesday. The business has a 50 day moving average of $131.08 and a 200-day moving average of $145.89. Nevro Corp. has a 1 year low of $99.54 and a 1 year high of $188.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.53 and a quick ratio of 6.37. The company has a market capitalization of $4.29 billion, a P/E ratio of -62.42 and a beta of 1.04.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Wednesday, August 4th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.09. Nevro had a negative return on equity of 18.29% and a negative net margin of 16.68%. The company had revenue of $102.30 million during the quarter, compared to the consensus estimate of $102.83 million. During the same quarter in the prior year, the firm posted ($1.21) earnings per share. The firm’s revenue was up 81.4% compared to the same quarter last year. Equities analysts anticipate that Nevro Corp. will post -2.89 EPS for the current year.

About Nevro

Nevro Corp. engages in the provision 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 senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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