Federated Hermes Inc. Purchases 341,343 Shares of Nevro Corp. (NYSE:NVRO)

Federated Hermes Inc. increased its position in shares of Nevro Corp. (NYSE:NVRO - Free Report) by 380.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 431,153 shares of the medical equipment provider's stock after buying an additional 341,343 shares during the period. Federated Hermes Inc. owned 1.19% of Nevro worth $9,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Palo Alto Investors LP increased its holdings in shares of Nevro by 107.7% in the third quarter. Palo Alto Investors LP now owns 386,832 shares of the medical equipment provider's stock valued at $7,435,000 after purchasing an additional 200,573 shares during the last quarter. Swiss National Bank increased its holdings in shares of Nevro by 1.3% in the third quarter. Swiss National Bank now owns 78,800 shares of the medical equipment provider's stock valued at $1,515,000 after purchasing an additional 1,000 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Nevro by 301.4% in the third quarter. Walleye Capital LLC now owns 118,764 shares of the medical equipment provider's stock valued at $2,283,000 after purchasing an additional 89,179 shares during the last quarter. UBS Group AG increased its holdings in shares of Nevro by 19,354.5% in the third quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider's stock valued at $17,361,000 after purchasing an additional 898,629 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new position in shares of Nevro in the third quarter valued at $248,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Nevro from $23.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, February 22nd. StockNews.com upgraded shares of Nevro from a "sell" rating to a "hold" rating in a report on Friday, March 1st. Mizuho reduced their target price on shares of Nevro from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, April 11th. Royal Bank of Canada reduced their target price on shares of Nevro from $18.00 to $16.00 and set a "sector perform" rating for the company in a research report on Monday, April 15th. Finally, Citigroup reduced their target price on shares of Nevro from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.23.

Nevro Price Performance

NVRO traded down $0.90 on Thursday, hitting $11.61. 346,380 shares of the stock were exchanged, compared to its average volume of 474,770. Nevro Corp. has a 12 month low of $11.49 and a 12 month high of $34.86. The business has a 50-day moving average of $14.05 and a two-hundred day moving average of $16.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94. The firm has a market capitalization of $425.85 million, a price-to-earnings ratio of -4.52 and a beta of 0.89.

Nevro (NYSE:NVRO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $116.18 million during the quarter, compared to analysts' expectations of $115.93 million. Sell-side analysts forecast that Nevro Corp. will post -2.54 EPS for the current fiscal 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.