O Shaughnessy Asset Management LLC Grows Stock Holdings in Nevro Corp. (NYSE:NVRO)

O Shaughnessy Asset Management LLC increased its position in shares of Nevro Corp. (NYSE:NVRO) by 24.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,525 shares of the medical equipment provider’s stock after purchasing an additional 495 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Nevro were worth $418,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its position in shares of Nevro by 414.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 32,906 shares of the medical equipment provider’s stock valued at $4,590,000 after buying an additional 26,506 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Nevro by 231.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 74,476 shares of the medical equipment provider’s stock valued at $10,389,000 after buying an additional 52,022 shares during the period. Ieq Capital LLC purchased a new stake in shares of Nevro during the 2nd quarter valued at approximately $231,000. Canada Pension Plan Investment Board raised its position in shares of Nevro by 25.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 8,027 shares of the medical equipment provider’s stock valued at $1,120,000 after buying an additional 1,649 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Nevro by 23.3% during the 1st quarter. Teacher Retirement System of Texas now owns 3,515 shares of the medical equipment provider’s stock valued at $490,000 after buying an additional 665 shares during the period.

In other news, CEO D Keith Grossman bought 7,000 shares of the stock in a transaction that occurred on Friday, August 13th. The stock was purchased at an average price of $105.07 per share, for a total transaction of $735,490.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael F. Demane sold 6,445 shares of the business’s stock in a transaction on Tuesday, June 22nd. The shares were sold at an average price of $179.03, for a total transaction of $1,153,848.35. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Several analysts have recently commented on NVRO shares. Zacks Investment Research lowered shares of Nevro from a “hold” rating to a “sell” rating and set a $164.00 price target on the stock. in a research report on Wednesday, July 7th. Morgan Stanley dropped their target price on shares of Nevro from $199.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, August 5th. William Blair downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a report on Thursday, August 5th. TheStreet downgraded shares of Nevro from a “c-” rating to a “d+” rating in a report on Thursday, August 5th. Finally, Truist Securities dropped their target price on shares of Nevro from $205.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Nevro currently has an average rating of “Hold” and an average price target of $149.17.

NYSE:NVRO opened at $125.45 on Friday. The company has a fifty day simple moving average of $129.95 and a two-hundred day simple moving average of $145.59. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -63.68 and a beta of 1.04. The company has a quick ratio of 6.37, a current ratio of 7.53 and a debt-to-equity ratio of 0.41. Nevro Corp. has a 52 week low of $99.54 and a 52 week high of $188.14.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, August 4th. The medical equipment provider reported ($0.62) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.09. The business had revenue of $102.30 million during the quarter, compared to the consensus estimate of $102.83 million. Nevro had a negative net margin of 16.68% and a negative return on equity of 18.29%. The company’s quarterly revenue was up 81.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. On average, analysts expect 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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