BlackRock Inc. Grows Holdings in Nevro Corp. (NYSE:NVRO)

BlackRock Inc. increased its stake in Nevro Corp. (NYSE:NVRO – Get Rating) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 4,871,522 shares of the medical equipment provider’s stock after acquiring an additional 29,906 shares during the quarter. BlackRock Inc. owned 0.14% of Nevro worth $227,012,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of Nevro by 63.4% in the 3rd quarter. Assetmark Inc. now owns 930 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Pictet Asset Management SA raised its stake in Nevro by 0.3% during the third quarter. Pictet Asset Management SA now owns 250,834 shares of the medical equipment provider’s stock valued at $11,689,000 after buying an additional 650 shares in the last quarter. Barclays PLC lifted its holdings in Nevro by 43.5% during the 3rd quarter. Barclays PLC now owns 2,864 shares of the medical equipment provider’s stock worth $134,000 after buying an additional 868 shares during the last quarter. Jennison Associates LLC grew its position in shares of Nevro by 0.4% in the 3rd quarter. Jennison Associates LLC now owns 208,353 shares of the medical equipment provider’s stock worth $9,709,000 after acquiring an additional 915 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Nevro by 4.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,870 shares of the medical equipment provider’s stock valued at $1,206,000 after acquiring an additional 997 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Nevro Stock Up 0.7 %

NVRO opened at $30.41 on Tuesday. The stock’s 50 day moving average price is $36.01 and its 200 day moving average price is $40.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.11 and a quick ratio of 5.85. The stock has a market cap of $1.08 billion, a P/E ratio of -3,041.00 and a beta of 0.83. Nevro Corp. has a 12 month low of $28.75 and a 12 month high of $78.90.

Nevro (NYSE:NVRO – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The medical equipment provider reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). The business had revenue of $113.84 million for the quarter, compared to analyst estimates of $113.70 million. Nevro had a net margin of 0.74% and a negative return on equity of 36.24%. Nevro’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the business posted ($0.86) earnings per share. As a group, research analysts predict that Nevro Corp. will post -2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVRO. Truist Financial decreased their price objective on shares of Nevro from $45.00 to $41.00 and set a “hold” rating for the company in a report on Tuesday, December 20th. Piper Sandler lowered their price objective on shares of Nevro from $38.00 to $37.00 and set an “underweight” rating for the company in a research report on Thursday, January 26th. StockNews.com cut shares of Nevro from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Morgan Stanley lowered their target price on Nevro from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, January 6th. Finally, Wells Fargo & Company cut their price target on Nevro from $43.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.30.

Nevro Company Profile

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Nevro Corp. engages in the development of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes the senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.