Assenagon Asset Management S.A. Increases Position in Nevro Corp. (NYSE:NVRO)

Assenagon Asset Management S.A. raised its holdings in Nevro Corp. (NYSE:NVRO - Free Report) by 27.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 929,348 shares of the medical equipment provider's stock after buying an additional 200,885 shares during the period. Assenagon Asset Management S.A. owned about 2.49% of Nevro worth $5,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVRO. Nisa Investment Advisors LLC increased its stake in shares of Nevro by 1,788.8% during the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider's stock worth $58,000 after purchasing an additional 6,565 shares during the period. SG Americas Securities LLC bought a new position in shares of Nevro during the third quarter worth approximately $71,000. Canada Pension Plan Investment Board increased its stake in shares of Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider's stock worth $90,000 after purchasing an additional 8,300 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Nevro by 14.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider's stock worth $167,000 after purchasing an additional 1,430 shares during the period. Finally, XTX Topco Ltd increased its stake in shares of Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider's stock worth $208,000 after purchasing an additional 11,323 shares during the period. Institutional investors own 95.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their target price on Nevro from $10.00 to $5.50 and set a "hold" rating on the stock in a research note on Thursday, August 8th. JMP Securities lowered Nevro from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered Nevro from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $13.00 to $5.50 in a research note on Wednesday, August 7th. Morgan Stanley lowered their price objective on Nevro from $14.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, July 15th. Finally, Robert W. Baird lowered their price objective on Nevro from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. Based on data from MarketBeat, Nevro currently has a consensus rating of "Hold" and a consensus target price of $10.55.

Nevro Price Performance

Shares of NYSE NVRO traded up $0.15 during mid-day trading on Wednesday, hitting $5.40. 714,488 shares of the stock traded hands, compared to its average volume of 549,421. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. Nevro Corp. has a twelve month low of $4.38 and a twelve month high of $22.64. The company has a market cap of $201.31 million, a PE ratio of -2.46 and a beta of 0.94. The firm has a 50 day simple moving average of $5.32 and a two-hundred day simple moving average of $7.92.

Nevro (NYSE:NVRO - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.10. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The company had revenue of $104.16 million for the quarter, compared to the consensus estimate of $107.11 million. During the same quarter last year, the business posted ($0.69) EPS. Nevro's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Nevro Corp. will post -2.6 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.