M&T Bank Corp lifted its position in shares of Nevro Corp. (NYSE:NVRO – Free Report) by 54.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,954 shares of the medical equipment provider’s stock after buying an additional 27,681 shares during the period. M&T Bank Corp’s holdings in Nevro were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Western Standard LLC purchased a new position in Nevro in the third quarter worth approximately $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Nevro by 130.7% in the 3rd 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. Engaged Capital LLC grew its holdings in shares of Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after purchasing an additional 557,000 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Nevro by 50.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock worth $4,096,000 after purchasing an additional 246,979 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Nevro by 27.6% during the 3rd 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. Hedge funds and other institutional investors own 95.52% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on NVRO shares. JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Robert W. Baird boosted their target price on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Royal Bank of Canada restated a “sector perform” rating and set a $7.00 price target on shares of Nevro in a research report on Tuesday, November 12th. Finally, Piper Sandler cut their price objective on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.05.
Nevro Price Performance
Shares of NYSE NVRO opened at $4.05 on Wednesday. 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 company has a market cap of $151.76 million, a price-to-earnings ratio of -2.14 and a beta of 0.84. The stock’s 50-day moving average is $4.72 and its two-hundred day moving average is $6.39. Nevro Corp. has a 1-year low of $3.92 and a 1-year high of $22.52.
Nevro (NYSE:NVRO – Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.65) earnings per share. Analysts forecast that Nevro Corp. will post -2.43 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.
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