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

Principal Financial Group Inc. trimmed its holdings in shares of Nevro Corp. (NYSE:NVRO) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,859 shares of the medical equipment provider’s stock after selling 21,563 shares during the quarter. Principal Financial Group Inc. owned about 0.71% of Nevro worth $28,963,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NVRO. Amundi Pioneer Asset Management Inc. acquired a new position in Nevro during the first quarter worth $1,525,000. O Shaughnessy Asset Management LLC grew its position in shares of Nevro by 24.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,525 shares of the medical equipment provider’s stock valued at $418,000 after purchasing an additional 495 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Nevro by 34.9% in the second quarter. WINTON GROUP Ltd now owns 4,617 shares of the medical equipment provider’s stock valued at $765,000 after purchasing an additional 1,194 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Nevro by 2.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 7,401 shares of the medical equipment provider’s stock valued at $1,227,000 after purchasing an additional 208 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Nevro in the second quarter valued at about $232,000.

Shares of NVRO opened at $92.06 on Friday. The stock 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 quick ratio of 5.97, a current ratio of 7.20 and a debt-to-equity ratio of 0.47. Nevro Corp. has a 12 month low of $78.36 and a 12 month high of $184.85. The company has a 50-day moving average price of $88.88 and a two-hundred day moving average price of $116.62.

Nevro (NYSE:NVRO) last posted its earnings results on Sunday, November 7th. The medical equipment provider reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.01. Nevro had a negative net margin of 27.51% and a negative return on equity of 24.68%. The company had revenue of $93.21 million during the quarter, compared to analysts’ expectations of $91.59 million. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Nevro’s quarterly revenue was down 14.1% compared to the same quarter last year. Equities research analysts expect that Nevro Corp. will post -3.2 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on NVRO shares. Piper Sandler lowered their price target on Nevro from $115.00 to $90.00 in a research report on Monday, January 3rd. Truist downgraded Nevro from a “buy” rating to a “hold” rating and lowered their price target for the company from $165.00 to $105.00 in a research report on Tuesday, November 9th. Citigroup lowered their price target on Nevro from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 9th. SVB Leerink reaffirmed a “buy” rating and issued a $128.00 price target on shares of Nevro in a research report on Friday, November 19th. Finally, Canaccord Genuity Group reduced their target price on shares of Nevro from $118.00 to $97.00 and set a “hold” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $117.00.

In related news, Director Kevin C. Oboyle purchased 2,400 shares of the stock in a transaction that occurred on Tuesday, December 14th. The stock was acquired at an average price of $83.78 per share, with a total value of $201,072.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kashif Rashid purchased 2,000 shares of the stock in a transaction that occurred on Thursday, November 11th. The stock was bought at an average cost of $101.05 per share, with a total value of $202,100.00. The disclosure for this purchase can be found here. Insiders bought 24,400 shares of company stock valued at $2,109,772 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

About Nevro

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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