TD Asset Management Inc Lowers Holdings in Nevro Corp. (NYSE:NVRO)

TD Asset Management Inc trimmed its holdings in Nevro Corp. (NYSE:NVRO – Get Rating) by 53.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,290 shares of the medical equipment provider’s stock after selling 18,650 shares during the quarter. TD Asset Management Inc’s holdings in Nevro were worth $645,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Nevro by 63.4% during the 3rd quarter. Assetmark Inc. now owns 930 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 361 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Nevro during the 3rd quarter worth about $54,000. Barclays PLC boosted its stake in shares of Nevro by 43.5% during the 3rd quarter. Barclays PLC now owns 2,864 shares of the medical equipment provider’s stock worth $134,000 after acquiring an additional 868 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Nevro during the 1st quarter worth about $170,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of Nevro during the 3rd quarter worth about $202,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Nevro Stock Down 3.0 %

Shares of NYSE NVRO opened at $27.11 on Friday. The company has a 50 day simple moving average of $32.43 and a 200-day simple moving average of $37.00. The company has a market capitalization of $971.00 million, a P/E ratio of -2,711.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.15 and a quick ratio of 5.63. Nevro Corp. has a 1 year low of $26.40 and a 1 year high of $53.34.

Nevro (NYSE:NVRO – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The medical equipment provider reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. The business had revenue of $96.33 million during the quarter, compared to the consensus estimate of $95.35 million. Nevro had a net margin of 0.55% and a negative return on equity of 34.61%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.98) EPS. On average, equities research analysts predict that Nevro Corp. will post -2.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho began coverage on shares of Nevro in a research note on Thursday, April 13th. They set a “neutral” rating and a $40.00 target price on the stock. Piper Sandler reduced their price target on shares of Nevro from $37.00 to $34.00 in a research report on Thursday, April 27th. 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 research report on Tuesday, January 17th. Truist Financial reduced their price target on shares of Nevro from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 17th. Finally, Canaccord Genuity Group upped their price target on shares of Nevro from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, February 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Nevro currently has an average rating of “Hold” and a consensus price target of $47.50.

Nevro Company Profile

(Get Rating)

Nevro Corp. engages in the development 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 the senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.