Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Nevro Corp (NYSE:NVRO) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 39,381 shares of the medical equipment provider’s stock, valued at approximately $2,245,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its stake in shares of Nevro by 23.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,258 shares of the medical equipment provider’s stock worth $340,000 after acquiring an additional 800 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Nevro by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 28,525 shares of the medical equipment provider’s stock worth $2,278,000 after acquiring an additional 856 shares in the last quarter. UBS Group AG boosted its stake in shares of Nevro by 38.0% during the 1st quarter. UBS Group AG now owns 5,479 shares of the medical equipment provider’s stock worth $474,000 after acquiring an additional 1,509 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Nevro by 38.5% during the 2nd quarter. Gradient Investments LLC now owns 9,195 shares of the medical equipment provider’s stock worth $734,000 after acquiring an additional 2,555 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its stake in shares of Nevro by 31.8% during the 3rd quarter. Essex Investment Management Co. LLC now owns 11,473 shares of the medical equipment provider’s stock worth $654,000 after acquiring an additional 2,770 shares in the last quarter.

Several analysts have recently issued reports on NVRO shares. BMO Capital Markets decreased their price target on Nevro from $80.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, August 6th. JPMorgan Chase & Co. downgraded Nevro from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $77.00 to $45.00 in a research note on Tuesday, November 6th. ValuEngine upgraded Nevro from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 7th. Wells Fargo & Co decreased their target price on Nevro from $62.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, November 6th. Finally, Canaccord Genuity decreased their target price on Nevro from $80.00 to $63.00 and set an “in-line” rating for the company in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $64.11.

Shares of NYSE:NVRO opened at $40.35 on Monday. Nevro Corp has a twelve month low of $35.41 and a twelve month high of $94.34. The company has a market cap of $1.22 billion, a P/E ratio of -32.28 and a beta of -0.29. The company has a quick ratio of 6.31, a current ratio of 8.05 and a debt-to-equity ratio of 0.62.

Nevro (NYSE:NVRO) last announced its earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.07). Nevro had a negative net margin of 11.64% and a negative return on equity of 17.89%. The business had revenue of $95.60 million for the quarter, compared to the consensus estimate of $94.29 million. During the same quarter in the previous year, the company earned ($0.21) EPS. Nevro’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities research analysts forecast that Nevro Corp will post -1.49 earnings per share for the current fiscal year.

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About Nevro

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.

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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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