Truist Financial Corp Sells 8,873 Shares of Nevro Corp. (NYSE:NVRO)

Truist Financial Corp cut its holdings in Nevro Corp. (NYSE:NVRO – Get Rating) by 27.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,106 shares of the medical equipment provider’s stock after selling 8,873 shares during the period. Truist Financial Corp owned 0.07% of Nevro worth $1,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in Nevro by 0.3% in the 2nd quarter. Brown Advisory Inc. now owns 613,841 shares of the medical equipment provider’s stock worth $27,012,000 after buying an additional 2,096 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Nevro by 6.3% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 174,683 shares of the medical equipment provider’s stock worth $7,656,000 after buying an additional 10,420 shares during the period. Strs Ohio boosted its holdings in Nevro by 6.3% in the 2nd quarter. Strs Ohio now owns 5,100 shares of the medical equipment provider’s stock worth $223,000 after buying an additional 300 shares during the period. Integral Health Asset Management LLC boosted its holdings in Nevro by 56.6% in the 2nd quarter. Integral Health Asset Management LLC now owns 78,277 shares of the medical equipment provider’s stock worth $3,431,000 after buying an additional 28,277 shares during the period. Finally, Assetmark Inc. boosted its holdings in Nevro by 138.1% in the 2nd quarter. Assetmark Inc. now owns 569 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 330 shares during the period. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVRO has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Nevro from $43.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, January 11th. Jefferies Financial Group initiated coverage on shares of Nevro in a report on Wednesday, October 12th. They issued an “underperform” rating and a $31.00 price target for the company. Canaccord Genuity Group raised shares of Nevro from a “hold” rating to a “buy” rating and raised their price target for the company from $41.00 to $67.00 in a report on Tuesday, December 20th. Citigroup downgraded shares of Nevro from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Nevro from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.67.

Nevro Price Performance

Shares of NYSE:NVRO opened at $37.71 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of -114.27 and a beta of 0.86. The company’s fifty day moving average is $41.22 and its 200 day moving average is $43.40. Nevro Corp. has a 52 week low of $34.70 and a 52 week high of $90.45. The company has a quick ratio of 5.82, a current ratio of 7.05 and a debt-to-equity ratio of 0.57.

Nevro (NYSE:NVRO – Get Rating) last issued its earnings results on Wednesday, November 2nd. The medical equipment provider reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. The company had revenue of $100.47 million for the quarter, compared to analysts’ expectations of $99.08 million. Nevro had a negative net margin of 2.01% and a negative return on equity of 40.89%. Research analysts anticipate that Nevro Corp. will post -2.71 earnings per share for the current year.

Nevro Profile

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Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain, as well as Senza II and Senza Omnia systems.