SG Americas Securities LLC Trims Stock Position in Nevro Corp. (NYSE:NVRO)

SG Americas Securities LLC lessened its holdings in Nevro Corp. (NYSE:NVRO – Get Rating) by 53.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,155 shares of the medical equipment provider’s stock after selling 4,729 shares during the period. SG Americas Securities LLC’s holdings in Nevro were worth $165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nevro by 19.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,423 shares of the medical equipment provider’s stock worth $215,000 after purchasing an additional 900 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Nevro in the fourth quarter worth $424,000. Exchange Traded Concepts LLC increased its position in shares of Nevro by 3.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 32,102 shares of the medical equipment provider’s stock worth $1,271,000 after acquiring an additional 936 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Nevro by 46.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 221,072 shares of the medical equipment provider’s stock worth $8,754,000 after acquiring an additional 69,616 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Nevro by 10.9% in the third quarter. M&T Bank Corp now owns 14,226 shares of the medical equipment provider’s stock worth $662,000 after acquiring an additional 1,398 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NVRO shares. Piper Sandler decreased their target price on shares of Nevro from $37.00 to $34.00 in a research note on Thursday, April 27th. Truist Financial reduced their price objective on shares of Nevro from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, April 17th. Canaccord Genuity Group increased their price objective on shares of Nevro from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, February 6th. Citigroup downgraded shares of Nevro from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Tuesday, January 17th. Finally, StockNews.com started coverage on shares of Nevro in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Nevro presently has an average rating of “Hold” and a consensus target price of $47.50.

Nevro Stock Up 0.8 %

Nevro stock opened at $27.32 on Friday. The stock has a market cap of $978.52 million, a price-to-earnings ratio of -2,732.00 and a beta of 0.86. The company has a current ratio of 7.15, a quick ratio of 5.63 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $32.15 and its two-hundred day moving average price is $36.84. Nevro Corp. has a 52 week low of $26.40 and a 52 week high of $53.34.

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

Nevro Company Profile

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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.