Russell Investments Group Ltd. Lowers Stock Holdings in Nevro Corp. (NYSE:NVRO)

Russell Investments Group Ltd. cut its holdings in shares of Nevro Corp. (NYSE:NVRO) by 13.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,032 shares of the medical equipment provider’s stock after selling 3,852 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Nevro worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. American Century Companies Inc. increased its holdings in shares of Nevro by 12.9% during the 4th quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock worth $138,000 after buying an additional 4,224 shares during the last quarter. SG Americas Securities LLC grew its position in Nevro by 34.6% during the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 4,406 shares during the period. Wells Fargo & Company MN increased its stake in Nevro by 29.9% during the fourth quarter. Wells Fargo & Company MN now owns 21,595 shares of the medical equipment provider’s stock worth $80,000 after acquiring an additional 4,971 shares during the last quarter. Virtu Financial LLC increased its stake in Nevro by 59.9% during the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock worth $67,000 after acquiring an additional 6,725 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Nevro by 62.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 20,548 shares of the medical equipment provider’s stock worth $76,000 after purchasing an additional 7,889 shares during the period. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVRO has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and increased their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. StockNews.com began coverage on shares of Nevro in a research report on Wednesday. They issued a “hold” rating for the company. Piper Sandler upgraded shares of Nevro from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $6.00 to $5.85 in a report on Friday, February 7th. Finally, Canaccord Genuity Group increased their price target on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.36.

Nevro Trading Up 0.1 %

NYSE:NVRO opened at $5.85 on Friday. The stock has a market cap of $224.32 million, a price-to-earnings ratio of -3.09 and a beta of 0.81. Nevro Corp. has a one year low of $3.17 and a one year high of $11.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The business’s 50-day simple moving average is $5.81 and its 200 day simple moving average is $5.04.

Nevro (NYSE:NVRO) last announced its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. As a group, sell-side analysts predict that Nevro Corp. will post -2.44 earnings per share 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.