Charles Schwab Investment Management Inc. Buys 11,369 Shares of Nevro Corp. (NYSE:NVRO)

Charles Schwab Investment Management Inc. lifted its stake in Nevro Corp. (NYSE:NVRO) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,675 shares of the medical equipment provider’s stock after purchasing an additional 11,369 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.81% of Nevro worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Nevro by 1,788.8% during the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Nevro during the 3rd quarter valued at about $69,000. SG Americas Securities LLC purchased a new stake in Nevro during the third quarter valued at approximately $71,000. Canada Pension Plan Investment Board lifted its position in Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock valued at $208,000 after purchasing an additional 11,323 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NVRO shares. JMP Securities restated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Canaccord Genuity Group dropped their price target on Nevro from $7.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Piper Sandler reduced their target price on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley lowered Nevro from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $9.00 to $4.00 in a research note on Monday, December 2nd. Finally, Robert W. Baird increased their target price on shares of Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.05.

Nevro Stock Up 2.0 %

Shares of NYSE NVRO opened at $4.15 on Tuesday. The stock has a 50 day moving average price of $4.75 and a 200 day moving average price of $6.46. The firm has a market capitalization of $155.51 million, a price-to-earnings ratio of -2.20 and a beta of 0.84. Nevro Corp. has a 52-week low of $3.92 and a 52-week high of $22.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. The company had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.65) earnings per share. Sell-side analysts expect that Nevro Corp. will post -2.43 earnings per share for the current year.

About Nevro

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.