Geode Capital Management LLC Sells 7,184 Shares of Nevro Corp. (NYSE:NVRO)

Geode Capital Management LLC cut its holdings in Nevro Corp. (NYSE:NVRO) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 828,020 shares of the medical equipment provider’s stock after selling 7,184 shares during the quarter. Geode Capital Management LLC owned 2.21% of Nevro worth $3,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in Nevro by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 314,481 shares of the medical equipment provider’s stock valued at $1,170,000 after acquiring an additional 10,806 shares in the last quarter. Prudential Financial Inc. lifted its position in Nevro by 243.4% in the 4th quarter. Prudential Financial Inc. now owns 195,680 shares of the medical equipment provider’s stock valued at $728,000 after acquiring an additional 138,700 shares in the last quarter. Raymond James Financial Inc. bought a new position in Nevro in the 4th quarter valued at approximately $287,000. American Century Companies Inc. boosted its stake in shares of Nevro by 12.9% in 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. Finally, Norden Group LLC bought a new stake in shares of Nevro in the fourth quarter worth $84,000. 95.52% of the stock is owned by institutional investors.

Nevro Trading Up 0.1 %

Nevro stock opened at $5.85 on Tuesday. The firm has a 50 day moving average of $5.81 and a 200 day moving average of $5.05. The firm has a market capitalization of $224.32 million, a price-to-earnings ratio of -3.09 and a beta of 0.81. Nevro Corp. has a 12-month low of $3.17 and a 12-month high of $11.79. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last announced its quarterly earnings data 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 net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $105.55 million during the quarter, compared to analyst estimates of $102.61 million. As a group, research analysts predict that Nevro Corp. will post -2.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NVRO. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and raised their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and cut their price target for the company from $6.00 to $5.85 in a research note on Friday, February 7th. StockNews.com started coverage on Nevro in a research note on Wednesday, April 23rd. They set a “hold” rating for the company. Finally, Canaccord Genuity Group boosted their price target on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nevro presently has a consensus rating of “Hold” and an average price target of $5.36.

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.