Norges Bank Makes New $8.50 Million Investment in Nevro Corp. (NYSE:NVRO)

Norges Bank purchased a new position in Nevro Corp. (NYSE:NVROFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 394,893 shares of the medical equipment provider’s stock, valued at approximately $8,498,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors L.P. bought a new position in Nevro in the 3rd quarter worth approximately $248,000. Dark Forest Capital Management LP bought a new position in shares of Nevro during the 3rd quarter valued at approximately $329,000. Barclays PLC boosted its position in shares of Nevro by 30.6% during the 3rd quarter. Barclays PLC now owns 17,632 shares of the medical equipment provider’s stock valued at $339,000 after acquiring an additional 4,133 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Nevro by 116.9% during the 3rd quarter. Trexquant Investment LP now owns 28,893 shares of the medical equipment provider’s stock valued at $555,000 after acquiring an additional 15,574 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Nevro by 27.3% during the 4th quarter. Truist Financial Corp now owns 38,496 shares of the medical equipment provider’s stock valued at $828,000 after acquiring an additional 8,247 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

Nevro Stock Performance

NVRO stock opened at $9.45 on Friday. The company has a quick ratio of 5.57, a current ratio of 7.38 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $11.26 and its two-hundred day simple moving average is $15.37. Nevro Corp. has a twelve month low of $8.93 and a twelve month high of $26.63. The firm has a market cap of $347.10 million, a price-to-earnings ratio of -4.13 and a beta of 0.95.

Nevro (NYSE:NVROGet Free Report) last released its earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.32. Nevro had a negative return on equity of 27.48% and a negative net margin of 19.17%. The business had revenue of $101.90 million for the quarter, compared to analyst estimates of $97.90 million. During the same quarter last year, the firm posted ($0.98) earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Analysts predict that Nevro Corp. will post -2.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on Nevro from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Mizuho lowered their target price on Nevro from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Wells Fargo & Company lowered their target price on Nevro from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Citigroup downgraded Nevro from a “neutral” rating to a “sell” rating and lowered their target price for the company from $13.50 to $9.00 in a research report on Wednesday, May 22nd. Finally, Oppenheimer downgraded Nevro from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nevro presently has an average rating of “Hold” and an average target price of $19.46.

Read Our Latest Research Report on Nevro

About Nevro

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NVRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nevro Corp. (NYSE:NVROFree Report).

Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.