King Wealth lifted its holdings in Nevro Corp. (NYSE:NVRO – Free Report) by 53.0% in the second quarter, Holdings Channel reports. The fund owned 20,200 shares of the medical equipment provider’s stock after purchasing an additional 7,000 shares during the quarter. King Wealth’s holdings in Nevro were worth $513,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Nevro by 13.7% in the 1st quarter. BlackRock Inc. now owns 4,718,980 shares of the medical equipment provider’s stock valued at $341,322,000 after acquiring an additional 568,749 shares during the last quarter. Vanguard Group Inc. lifted its stake in Nevro by 1.7% in the third quarter. Vanguard Group Inc. now owns 3,621,085 shares of the medical equipment provider’s stock worth $168,743,000 after purchasing an additional 60,289 shares during the last quarter. Wellington Management Group LLP lifted its stake in Nevro by 19.1% in the first quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider’s stock worth $129,989,000 after purchasing an additional 287,936 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Nevro by 6.4% in the first quarter. ArrowMark Colorado Holdings LLC now owns 1,331,756 shares of the medical equipment provider’s stock worth $48,143,000 after purchasing an additional 79,538 shares during the last quarter. Finally, Norges Bank bought a new stake in Nevro in the fourth quarter worth about $50,205,000. Institutional investors own 95.52% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Nevro from $18.50 to $17.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Robert W. Baird decreased their price objective on shares of Nevro from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, August 2nd. Oppenheimer decreased their price objective on shares of Nevro from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Piper Sandler decreased their price objective on shares of Nevro from $24.00 to $15.00 and set an “underweight” rating for the company in a research note on Thursday, November 2nd. Finally, StockNews.com initiated coverage on shares of Nevro in a research report on Thursday, October 5th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nevro presently has a consensus rating of “Hold” and an average price target of $27.50.
Nevro Trading Up 1.9 %
Shares of NYSE:NVRO traded up $0.32 during trading on Wednesday, reaching $17.26. 26,684 shares of the company were exchanged, compared to its average volume of 573,445. The business’s fifty day simple moving average is $17.73 and its 200-day simple moving average is $21.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.01 and a current ratio of 6.55. Nevro Corp. has a 12-month low of $13.98 and a 12-month high of $48.10.
Nevro (NYSE:NVRO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.12. The company had revenue of $103.86 million for the quarter, compared to analyst estimates of $95.87 million. Nevro had a negative net margin of 24.22% and a negative return on equity of 33.99%. Nevro’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted ($0.62) earnings per share. On average, equities analysts anticipate that Nevro Corp. will post -2.83 earnings per share for the current year.
Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation system for the treatment of chronic pain, as well as Senza II and Senza Omnia SCS systems.
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