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

Federated Hermes Inc. grew its holdings in Nevro Corp. (NYSE:NVRO) by 380.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 431,153 shares of the medical equipment provider’s stock after purchasing an additional 341,343 shares during the period. Federated Hermes Inc.’s holdings in Nevro were worth $9,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NVRO. Counterpoint Mutual Funds LLC bought a new position in shares of Nevro in the 3rd quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Nevro by 83.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,970 shares of the medical equipment provider’s stock worth $192,000 after acquiring an additional 4,547 shares during the last quarter. Versor Investments LP grew its position in Nevro by 22.9% during the 3rd quarter. Versor Investments LP now owns 11,017 shares of the medical equipment provider’s stock worth $212,000 after acquiring an additional 2,050 shares during the last quarter. Natixis Advisors L.P. bought a new stake in Nevro during the 3rd quarter worth $248,000. Finally, SG Americas Securities LLC bought a new stake in Nevro during the 3rd quarter worth $274,000. Institutional investors own 95.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on Nevro from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Monday, April 15th. Citigroup reduced their price objective on Nevro from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Oppenheimer lowered Nevro from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 22nd. Robert W. Baird reduced their price objective on Nevro from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Finally, Wells Fargo & Company cut their target price on Nevro from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.23.

Nevro Stock Down 2.0 %

Shares of NYSE:NVRO opened at $12.53 on Thursday. 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 business’s 50-day moving average is $14.16 and its 200-day moving average is $16.65. Nevro Corp. has a 1 year low of $11.98 and a 1 year high of $34.86.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.35. The company had revenue of $116.18 million for the quarter, compared to the consensus estimate of $115.93 million. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. On average, research analysts anticipate that Nevro Corp. will post -2.54 EPS for the current fiscal year.

Nevro Company Profile

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.