Assenagon Asset Management S.A. Lowers Holdings in Nevro Corp. (NYSE:NVRO)

Assenagon Asset Management S.A. reduced its holdings in shares of Nevro Corp. (NYSE:NVRO - Free Report) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,827 shares of the medical equipment provider's stock after selling 258,521 shares during the period. Assenagon Asset Management S.A. owned approximately 1.79% of Nevro worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NVRO. ArrowMark Colorado Holdings LLC increased its holdings in Nevro by 2.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider's stock worth $24,547,000 after buying an additional 102,150 shares during the period. Armistice Capital LLC raised its holdings in shares of Nevro by 1.3% during the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider's stock worth $30,918,000 after purchasing an additional 48,000 shares during the last quarter. Engaged Capital LLC lifted its position in Nevro by 29.5% during the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider's stock valued at $13,656,000 after purchasing an additional 557,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Nevro by 130.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider's stock valued at $5,590,000 after purchasing an additional 566,462 shares during the last quarter. Finally, Western Standard LLC acquired a new stake in Nevro during the 3rd quarter worth about $5,473,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

Nevro Price Performance

NVRO traded up $0.18 on Thursday, reaching $5.08. 507,230 shares of the company's stock were exchanged, compared to its average volume of 664,066. Nevro Corp. has a twelve month low of $3.16 and a twelve month high of $19.11. The stock has a market cap of $190.16 million, a PE ratio of -2.69 and a beta of 0.86. 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's fifty day moving average price is $4.11 and its 200-day moving average price is $5.51.

Nevro (NYSE:NVRO - Get Free Report) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $96.60 million for the quarter, compared to analysts' expectations of $93.09 million. During the same period in the previous year, the firm posted ($0.65) EPS. The business's revenue for the quarter was down 7.0% compared to the same quarter last year. Sell-side analysts expect that Nevro Corp. will post -2.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVRO. Citigroup cut their price objective on shares of Nevro from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $7.00 price target on shares of Nevro in a report on Tuesday, November 12th. Truist Financial dropped their price objective on Nevro from $7.00 to $4.70 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Morgan Stanley downgraded Nevro from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $9.00 to $4.00 in a research note on Monday, December 2nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Nevro in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.30.

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.