Nuveen Asset Management LLC Acquires 17,878 Shares of Nevro Corp. (NYSE:NVRO)

Nuveen Asset Management LLC lifted its holdings in shares of Nevro Corp. (NYSE:NVRO) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 369,554 shares of the medical equipment provider’s stock after acquiring an additional 17,878 shares during the period. Nuveen Asset Management LLC owned approximately 0.99% of Nevro worth $1,375,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. D. E. Shaw & Co. Inc. lifted its holdings in shares of Nevro by 20.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after acquiring an additional 306,943 shares during the period. Corton Capital Inc. bought a new position in shares of Nevro during the 4th quarter worth about $43,000. Cantor Fitzgerald L. P. bought a new position in Nevro during the 4th quarter valued at about $1,976,000. Algert Global LLC lifted its holdings in Nevro by 7.2% during the 4th quarter. Algert Global LLC now owns 61,233 shares of the medical equipment provider’s stock valued at $228,000 after purchasing an additional 4,120 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Nevro by 31.1% during the 4th quarter. Jane Street Group LLC now owns 149,181 shares of the medical equipment provider’s stock valued at $555,000 after purchasing an additional 35,405 shares during the last quarter. 95.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVRO has been the subject of several analyst reports. Wall Street Zen initiated coverage on shares of Nevro in a report on Saturday, May 17th. They set a “hold” rating for the company. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and lifted their price target for the company from $4.50 to $5.85 in a report on Monday, February 10th. Piper Sandler raised shares of 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 report on Friday, February 7th. Finally, Canaccord Genuity Group lifted their price target on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Nevro currently has an average rating of “Hold” and an average target price of $5.36.

Nevro Stock Up 0.1%

Shares of NYSE:NVRO opened at $5.85 on Wednesday. Nevro Corp. has a one year low of $3.17 and a one year high of $10.37. The company has a 50 day moving average of $5.85 and a 200-day moving average of $5.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. 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 (NYSE:NVRO) last issued its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping the consensus estimate 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 company had revenue of $105.55 million during the quarter, compared to analysts’ expectations of $102.61 million. On average, sell-side analysts forecast that Nevro Corp. will post -2.44 earnings per share for the current year.

Nevro 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.