State Street Corp Has $4.21 Million Position in Nevro Corp. (NYSE:NVRO)

State Street Corp decreased its stake in Nevro Corp. (NYSE:NVRO - Free Report) by 24.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 752,631 shares of the medical equipment provider's stock after selling 241,495 shares during the quarter. State Street Corp owned 2.01% of Nevro worth $4,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVRO. ArrowMark Colorado Holdings LLC grew its holdings in shares of 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 valued at $24,547,000 after buying an additional 102,150 shares during the period. Armistice Capital LLC grew its stake in Nevro by 1.3% in the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider's stock valued at $30,918,000 after acquiring an additional 48,000 shares during the period. Engaged Capital LLC grew its stake in Nevro by 29.5% in 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 acquiring an additional 557,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 worth $5,590,000 after acquiring an additional 566,462 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Nevro by 21.4% during the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider's stock worth $8,054,000 after purchasing an additional 168,573 shares during the period. Institutional investors own 95.52% of the company's stock.

Nevro Stock Performance

NVRO remained flat at $3.72 on Monday. The company had a trading volume of 367,453 shares, compared to its average volume of 556,838. The company has a 50 day moving average price of $4.51 and a two-hundred day moving average price of $6.04. Nevro Corp. has a fifty-two week low of $3.52 and a fifty-two week high of $21.74. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The company has a market cap of $139.40 million, a P/E ratio of -1.97 and a beta of 0.84.

Nevro (NYSE:NVRO - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $96.60 million for the quarter, compared to analysts' expectations of $93.09 million. During the same quarter in the prior year, the business posted ($0.65) EPS. The business's revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on NVRO shares. Wells Fargo & Company decreased their price objective on Nevro from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Piper Sandler reduced their price target on shares of Nevro from $7.00 to $6.00 and set an "underweight" rating for the company in a report on Tuesday, November 12th. Truist Financial dropped their price objective on shares of Nevro from $7.00 to $4.70 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $7.00 target price on shares of Nevro in a research note on Tuesday, November 12th. Finally, Morgan Stanley cut Nevro from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $6.30.

About Nevro

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.