UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 566,462 Shares of Nevro Corp. (NYSE:NVRO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Nevro Corp. (NYSE:NVRO - Free Report) by 130.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,000,000 shares of the medical equipment provider's stock after buying an additional 566,462 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 2.68% of Nevro worth $5,590,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Armistice Capital LLC grew its holdings in 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 buying an additional 48,000 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider's stock valued at $8,054,000 after purchasing an additional 168,573 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Nevro by 27.6% during the third quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider's stock worth $5,195,000 after purchasing an additional 200,885 shares during the last quarter. Renaissance Technologies LLC increased its stake in Nevro by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider's stock valued at $3,099,000 after buying an additional 17,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Nevro by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider's stock worth $1,698,000 after buying an additional 11,369 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company's stock.

Nevro Price Performance

Shares of NYSE NVRO traded down $0.03 during mid-day trading on Wednesday, reaching $4.31. 318,285 shares of the company were exchanged, compared to its average volume of 563,431. The stock has a market capitalization of $161.50 million, a PE ratio of -2.28 and a beta of 0.84. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro Corp. has a 52 week low of $3.95 and a 52 week high of $22.64. The company's 50 day moving average price is $4.78 and its 200 day moving average price is $6.55.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NVRO shares. Morgan Stanley lowered Nevro from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Wells Fargo & Company lowered their price objective on shares of Nevro from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Piper Sandler reduced their target price on shares of Nevro from $7.00 to $6.00 and set an "underweight" rating for the company in a research report on Tuesday, November 12th. Robert W. Baird upped their price objective on Nevro from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Finally, Canaccord Genuity Group cut their target price on shares of Nevro from $7.00 to $4.00 and set a "hold" rating for the company in a research report on Monday. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.05.

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.