Assetmark Inc. Has $43,000 Stock Holdings in Nevro Corp. (NYSE:NVRO)

Assetmark Inc. increased its stake in shares of Nevro Corp. (NYSE:NVRO – Get Rating) by 63.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 930 shares of the medical equipment provider’s stock after purchasing an additional 361 shares during the quarter. Assetmark Inc.’s holdings in Nevro were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in Nevro by 15.7% in the 1st quarter. HighTower Advisors LLC now owns 17,629 shares of the medical equipment provider’s stock valued at $1,275,000 after acquiring an additional 2,391 shares during the period. Bank of Montreal Can increased its position in Nevro by 171.3% in the 1st quarter. Bank of Montreal Can now owns 40,680 shares of the medical equipment provider’s stock valued at $2,952,000 after acquiring an additional 25,684 shares during the period. MetLife Investment Management LLC increased its position in Nevro by 56.5% in the 1st quarter. MetLife Investment Management LLC now owns 18,940 shares of the medical equipment provider’s stock valued at $1,370,000 after acquiring an additional 6,838 shares during the period. BlackRock Inc. increased its position in Nevro by 13.7% in the 1st quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock valued at $341,322,000 after acquiring an additional 568,749 shares during the period. Finally, Blair William & Co. IL increased its position in Nevro by 4.1% in the 1st quarter. Blair William & Co. IL now owns 50,995 shares of the medical equipment provider’s stock valued at $3,688,000 after acquiring an additional 2,020 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVRO has been the subject of several recent research reports. Morgan Stanley decreased their price target on shares of Nevro from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of Nevro from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Truist Financial reduced their price objective on shares of Nevro from $45.00 to $41.00 and set a “hold” rating on the stock in a research note on Tuesday, December 20th. William Blair reaffirmed a “market perform” rating on shares of Nevro in a research note on Wednesday, November 2nd. Finally, Canaccord Genuity Group raised shares of Nevro from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $67.00 in a research note on Tuesday, December 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.67.

Nevro Stock Up 0.6 %

Shares of NYSE NVRO opened at $37.92 on Monday. The firm has a market cap of $1.34 billion, a PE ratio of -114.91 and a beta of 0.86. Nevro Corp. has a 12-month low of $34.70 and a 12-month high of $87.71. The company’s fifty day simple moving average is $41.06 and its 200 day simple moving average is $43.29. 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.09. The business had revenue of $100.47 million for the quarter, compared to analyst estimates of $99.08 million. Nevro had a negative net margin of 2.01% and a negative return on equity of 40.89%. As a group, sell-side analysts forecast that Nevro Corp. will post -2.72 earnings per share for the current fiscal year.

Nevro Profile

(Get Rating)

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.