Nevro Corp. (NYSE:NVRO) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in shares of Nevro Corp. (NYSE:NVRO - Free Report) by 243.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 195,680 shares of the medical equipment provider's stock after purchasing an additional 138,700 shares during the quarter. Prudential Financial Inc. owned 0.52% of Nevro worth $728,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings 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 valued at $138,000 after buying an additional 4,224 shares during the period. SG Americas Securities LLC raised its position in Nevro by 34.6% in the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider's stock worth $64,000 after acquiring an additional 4,406 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Nevro by 59.9% during the 4th quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider's stock worth $67,000 after purchasing an additional 6,725 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Nevro by 62.3% during 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 in the last quarter. Finally, Amundi acquired a new position in shares of Nevro during the 4th quarter worth $30,000. 95.52% of the stock is owned by institutional investors and hedge funds.

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Nevro Trading Up 0.1 %

Shares of NVRO stock traded up $0.01 on Friday, reaching $5.85. 753,602 shares of the stock were exchanged, compared to its average volume of 747,469. Nevro Corp. has a 1-year low of $3.17 and a 1-year high of $13.30. The stock has a market cap of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $5.77 and a two-hundred day moving average of $4.99.

Nevro (NYSE:NVRO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping analysts' consensus estimates of ($0.79) by $0.15. The company had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. On average, research analysts anticipate that Nevro Corp. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial dropped their price target on Nevro from $7.00 to $4.70 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Jefferies Financial Group upgraded shares of Nevro from an "underperform" rating to a "hold" rating and increased their price target for the company 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 objective for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. StockNews.com began coverage on Nevro in a report on Monday, April 7th. They set a "hold" rating on the stock. Finally, Canaccord Genuity Group raised their price target on Nevro from $4.00 to $5.85 and gave the stock a "hold" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.