Assenagon Asset Management S.A. Trims Stock Position in Nevro Corp. (NYSE:NVRO)

Assenagon Asset Management S.A. reduced its stake in Nevro Corp. (NYSE:NVRO - Free Report) by 81.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,056 shares of the medical equipment provider's stock after selling 348,686 shares during the period. Assenagon Asset Management S.A. owned approximately 0.22% of Nevro worth $1,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NVRO. BlackRock Inc. increased its holdings in shares of Nevro by 13.7% in the 1st quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider's stock worth $341,322,000 after buying an additional 568,749 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Nevro by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,621,085 shares of the medical equipment provider's stock worth $168,743,000 after buying an additional 60,289 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Nevro by 46.7% in the 3rd quarter. Armistice Capital LLC now owns 3,456,000 shares of the medical equipment provider's stock worth $66,424,000 after buying an additional 1,100,000 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of Nevro by 36.5% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,189 shares of the medical equipment provider's stock worth $46,193,000 after buying an additional 485,433 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Nevro by 19.1% in the 1st quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider's stock worth $129,989,000 after buying an additional 287,936 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVRO shares. Canaccord Genuity Group restated a "hold" rating and issued a $23.00 target price on shares of Nevro in a report on Thursday, December 21st. StockNews.com upgraded shares of Nevro from a "sell" rating to a "hold" rating in a report on Friday, March 1st. Truist Financial lifted their price target on shares of Nevro from $22.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, December 22nd. Citigroup dropped their price target on shares of Nevro from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Robert W. Baird dropped their price target on shares of Nevro from $23.00 to $19.00 and set a "neutral" rating for the company in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Nevro presently has an average rating of "Hold" and an average price target of $22.85.

Nevro Trading Up 0.5 %

Nevro stock traded up $0.07 during trading hours on Friday, hitting $13.28. The company had a trading volume of 334,790 shares, compared to its average volume of 486,877. The firm has a market cap of $483.39 million, a P/E ratio of -5.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37. Nevro Corp. has a 1 year low of $12.34 and a 1 year high of $39.67. The company has a 50-day moving average price of $15.26 and a two-hundred day moving average price of $17.24.

Nevro (NYSE:NVRO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.35. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The firm had revenue of $116.18 million during the quarter, compared to analysts' expectations of $115.93 million. On average, sell-side analysts anticipate that Nevro Corp. will post -2.53 earnings per share for the current year.

Nevro 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.