Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Nevro Corp. (NYSE:NVRO) by 290.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,000 shares of the medical equipment provider’s stock after acquiring an additional 32,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.12% of Nevro worth $7,443,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Nevro by 6.8% during the fourth quarter. BlackRock Inc. now owns 3,720,187 shares of the medical equipment provider’s stock worth $643,965,000 after purchasing an additional 238,308 shares during the last quarter. Jackson Square Partners LLC increased its position in shares of Nevro by 19.9% in the fourth quarter. Jackson Square Partners LLC now owns 1,232,978 shares of the medical equipment provider’s stock valued at $213,428,000 after buying an additional 204,465 shares in the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of Nevro during the 4th quarter worth $28,034,000. Point72 Asset Management L.P. purchased a new stake in shares of Nevro in the 3rd quarter worth about $20,539,000. Finally, Tiger Eye Capital LLC grew its stake in Nevro by 64.7% in the 4th quarter. Tiger Eye Capital LLC now owns 239,122 shares of the medical equipment provider’s stock valued at $41,392,000 after acquiring an additional 93,969 shares during the last quarter.
Shares of NYSE:NVRO opened at $141.60 on Thursday. The company has a current ratio of 3.10, a quick ratio of 2.75 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -52.06 and a beta of 1.02. The stock’s 50-day moving average price is $152.48 and its two-hundred day moving average price is $161.29. Nevro Corp. has a 12-month low of $100.59 and a 12-month high of $188.14.
Nevro (NYSE:NVRO) last announced its quarterly earnings data on Tuesday, February 23rd. The medical equipment provider reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.12. Nevro had a negative net margin of 24.46% and a negative return on equity of 30.25%. As a group, research analysts forecast that Nevro Corp. will post -2.64 earnings per share for the current fiscal year.
In other news, insider Niamh Louise Pellegrini sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $182.55, for a total value of $136,912.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 2,250 shares of company stock valued at $375,323 over the last 90 days. 7.60% of the stock is currently owned by insiders.
Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Nevro from $177.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, January 4th. Robert W. Baird lifted their price objective on Nevro from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 5th. SVB Leerink reiterated a “buy” rating on shares of Nevro in a report on Thursday, March 4th. Guggenheim boosted their price target on Nevro from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, December 31st. Finally, Morgan Stanley upped their price objective on Nevro from $192.00 to $199.00 and gave the company an “overweight” rating in a research report on Thursday, March 4th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Nevro has a consensus rating of “Buy” and an average price target of $181.38.
Nevro Corp., a medical device company, provides products for 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, as well as Senza II and Senza Omnia systems.
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