Principal Financial Group Inc. Has $28.96 Million Stock Holdings in Nevro Corp. (NYSE:NVRO)

Principal Financial Group Inc. lowered its stake in Nevro Corp. (NYSE:NVRO) by 8.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 248,859 shares of the medical equipment provider’s stock after selling 21,563 shares during the period. Principal Financial Group Inc.’s holdings in Nevro were worth $28,963,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BDO Wealth Advisors LLC acquired a new position in Nevro in the 2nd quarter valued at about $172,000. CIBC Asset Management Inc acquired a new position in Nevro in the 2nd quarter valued at about $212,000. Nisa Investment Advisors LLC grew its stake in Nevro by 50.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,350 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 450 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Nevro during the 2nd quarter worth approximately $232,000. Finally, Tudor Investment Corp Et Al acquired a new position in shares of Nevro during the 2nd quarter worth approximately $234,000.

Shares of NYSE:NVRO opened at $92.06 on Friday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -29.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.20 and a quick ratio of 5.97. The firm has a 50 day simple moving average of $88.88 and a 200 day simple moving average of $116.62. Nevro Corp. has a one year low of $78.36 and a one year high of $184.85.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Sunday, November 7th. The medical equipment provider reported ($0.86) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.01. The business had revenue of $93.21 million during the quarter, compared to the consensus estimate of $91.59 million. Nevro had a negative net margin of 27.51% and a negative return on equity of 24.68%. The firm’s revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.29) EPS. As a group, analysts expect that Nevro Corp. will post -3.2 EPS for the current year.

In other Nevro news, Director Kevin C. Oboyle purchased 2,400 shares of the firm’s stock in a transaction on Tuesday, December 14th. The stock was purchased at an average cost of $83.78 per share, for a total transaction of $201,072.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth H. Weatherman purchased 20,000 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was acquired at an average price of $85.33 per share, with a total value of $1,706,600.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 24,400 shares of company stock valued at $2,109,772. 2.60% of the stock is owned by insiders.

NVRO has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Nevro from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 9th. Canaccord Genuity Group decreased their target price on shares of Nevro from $118.00 to $97.00 and set a “hold” rating on the stock in a research report on Wednesday. Truist Financial lowered shares of Nevro to a “hold” rating and set a $104.00 target price on the stock. in a research report on Tuesday, November 9th. Truist lowered shares of Nevro from a “buy” rating to a “hold” rating and decreased their target price for the stock from $165.00 to $105.00 in a research report on Tuesday, November 9th. Finally, Canaccord Genuity Group decreased their target price on shares of Nevro from $118.00 to $97.00 and set a “hold” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.00.

Nevro Profile

Nevro Corp. engages in the provision of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes 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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