Swiss National Bank Acquires 1,700 Shares of Nevro Corp. (NYSE:NVRO)

Swiss National Bank grew its holdings in Nevro Corp. (NYSE:NVRO – Get Rating) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,100 shares of the medical equipment provider’s stock after purchasing an additional 1,700 shares during the quarter. Swiss National Bank owned approximately 0.23% of Nevro worth $3,212,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Nevro by 63.4% in the 3rd quarter. Assetmark Inc. now owns 930 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. Quantbot Technologies LP bought a new position in Nevro during the 3rd quarter worth approximately $54,000. Point72 Hong Kong Ltd bought a new position in Nevro during the 1st quarter worth approximately $170,000. Barclays PLC boosted its stake 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 acquiring an additional 868 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Nevro during the 1st quarter worth approximately $223,000. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

NVRO has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Nevro from $40.00 to $32.00 in a research note on Thursday, May 18th. Oppenheimer raised shares of Nevro from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Monday, May 15th. StockNews.com assumed coverage on shares of Nevro in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Mizuho assumed coverage on shares of Nevro in a report on Thursday, April 13th. They set a “neutral” rating and a $40.00 target price on the stock. Finally, Piper Sandler dropped their target price on shares of Nevro from $37.00 to $34.00 in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.09.

Nevro Price Performance

NYSE NVRO opened at $27.36 on Tuesday. The company has a quick ratio of 5.63, a current ratio of 7.15 and a debt-to-equity ratio of 0.62. Nevro Corp. has a 12-month low of $26.40 and a 12-month high of $53.34. The company has a market capitalization of $980.04 million, a PE ratio of -2,736.00 and a beta of 0.86. The firm’s 50 day moving average is $31.75 and its 200-day moving average is $36.43.

Nevro (NYSE:NVRO – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The medical equipment provider reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. The company had revenue of $96.33 million for the quarter, compared to the consensus estimate of $95.35 million. Nevro had a net margin of 0.55% and a negative return on equity of 34.61%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned ($0.98) earnings per share. Equities research analysts anticipate that Nevro Corp. will post -2.45 earnings per share for the current fiscal year.

About Nevro

(Get Rating)

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.