Acadian Asset Management LLC Grows Stock Position in Nevro Corp. (NYSE:NVRO)

Acadian Asset Management LLC grew its position in shares of Nevro Corp. (NYSE:NVRO) by 154.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,186 shares of the medical equipment provider’s stock after purchasing an additional 146,276 shares during the period. Acadian Asset Management LLC owned approximately 0.66% of Nevro worth $2,029,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in 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 worth $58,000 after buying an additional 6,565 shares during the period. Assetmark Inc. lifted its stake in shares of Nevro by 30.4% in the fourth quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock worth $67,000 after acquiring an additional 730 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 1,430 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Nevro by 45.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 9,586 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Nevro by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after purchasing an additional 2,836 shares during the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

Nevro Stock Performance

NVRO stock opened at $5.79 on Friday. Nevro Corp. has a 1 year low of $4.38 and a 1 year high of $22.64. The stock has a market capitalization of $215.85 million, a price-to-earnings ratio of -2.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. The stock’s fifty day moving average is $7.16 and its two-hundred day moving average is $9.92.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.10. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The firm had revenue of $104.16 million for the quarter, compared to the consensus estimate of $107.11 million. During the same period last year, the firm posted ($0.69) EPS. Nevro’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts predict that Nevro Corp. will post -2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVRO. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Citigroup raised shares of Nevro from a “sell” rating to a “neutral” rating and set a $6.89 target price for the company in a research report on Friday, August 9th. Robert W. Baird reduced their price target on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. StockNews.com lowered Nevro from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat, Nevro has an average rating of “Hold” and a consensus price target of $10.63.

Nevro Company 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.