Public Employees Retirement System of Ohio Buys 69,300 Shares of Nevro Corp. (NYSE:NVRO)

Public Employees Retirement System of Ohio boosted its stake in shares of Nevro Corp. (NYSE:NVRO) by 2,310.0% during the third quarter, Holdings Channel reports. The firm owned 72,300 shares of the medical equipment provider’s stock after purchasing an additional 69,300 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nevro were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVRO. Nisa Investment Advisors LLC lifted its holdings in shares of Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after buying an additional 6,565 shares during the period. Bank of New York Mellon Corp increased its position in Nevro by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock valued at $1,077,000 after acquiring an additional 8,673 shares during the last quarter. Rhumbline Advisers lifted its holdings in Nevro by 5.0% in the second quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after acquiring an additional 2,836 shares during the period. Acadian Asset Management LLC lifted its holdings in Nevro by 154.1% in the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock valued at $2,029,000 after acquiring an additional 146,276 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Nevro by 5.0% in the second quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider’s stock worth $3,099,000 after purchasing an additional 17,600 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NVRO shares. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $9.00 to $4.00 in a research note on Monday, December 2nd. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Truist Financial dropped their price target on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday. Canaccord Genuity Group cut their price objective on shares of Nevro from $7.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, December 9th. Finally, Robert W. Baird raised their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.97.

Nevro Stock Performance

NYSE NVRO opened at $3.79 on Friday. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro Corp. has a twelve month low of $3.52 and a twelve month high of $22.52. The business has a 50-day moving average price of $4.66 and a 200-day moving average price of $6.31. The firm has a market cap of $142.02 million, a price-to-earnings ratio of -2.01 and a beta of 0.84.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. During the same period last year, the firm posted ($0.65) EPS. The company’s revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts predict that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Nevro Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.