Strs Ohio Has $1.45 Million Stock Position in Nevro Corp (NYSE:NVRO)
Strs Ohio increased its position in Nevro Corp (NYSE:NVRO) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,100 shares of the medical equipment provider’s stock after purchasing an additional 200 shares during the quarter. Strs Ohio’s holdings in Nevro were worth $1,445,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in NVRO. Synovus Financial Corp acquired a new stake in Nevro in the first quarter worth about $50,000. Exchange Traded Concepts LLC increased its position in Nevro by 48.7% in the first quarter. Exchange Traded Concepts LLC now owns 1,050 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 344 shares during the period. IndexIQ Advisors LLC acquired a new stake in Nevro in the first quarter worth about $190,000. AlphaCrest Capital Management LLC acquired a new position in shares of Nevro during the 1st quarter worth about $201,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Nevro by 6.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,338 shares of the medical equipment provider’s stock worth $234,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.
NVRO has been the subject of several analyst reports. Morgan Stanley boosted their target price on Nevro from $135.00 to $145.00 in a research report on Thursday, June 18th. ValuEngine lowered Nevro from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. SunTrust Banks restated a “buy” rating and set a $135.00 target price on shares of Nevro in a research report on Thursday, June 4th. Citigroup boosted their target price on Nevro from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. Finally, JPMorgan Chase & Co. boosted their target price on Nevro from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $124.15.
Nevro (NYSE:NVRO) last released its earnings results on Tuesday, May 5th. The medical equipment provider reported ($0.78) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.99) by $0.21. The firm had revenue of $87.47 million for the quarter, compared to analysts’ expectations of $86.70 million. Nevro had a negative return on equity of 40.67% and a negative net margin of 21.36%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.45) EPS. On average, research analysts expect that Nevro Corp will post -3.79 earnings per share for the current year.
In other Nevro news, Director Shawn Mccormick sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $126.50, for a total value of $129,030.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.60% of the company’s stock.
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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