Barclays PLC Boosts Stock Holdings in Nevro Corp. (NYSE:NVRO)

Barclays PLC boosted its stake in shares of Nevro Corp. (NYSE:NVRO) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,416 shares of the medical equipment provider’s stock after purchasing an additional 7,920 shares during the period. Barclays PLC’s holdings in Nevro were worth $258,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NVRO. Prudential Financial Inc. raised its stake in Nevro by 243.4% during the fourth quarter. Prudential Financial Inc. now owns 195,680 shares of the medical equipment provider’s stock worth $728,000 after purchasing an additional 138,700 shares during the period. Raymond James Financial Inc. purchased a new position in Nevro during the fourth quarter worth approximately $287,000. Norden Group LLC purchased a new position in Nevro during the fourth quarter worth approximately $84,000. Townsquare Capital LLC purchased a new position in Nevro during the fourth quarter worth approximately $84,000. Finally, Sei Investments Co. purchased a new position in shares of Nevro in the 4th quarter valued at $77,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Stock Performance

Shares of NVRO stock opened at $5.85 on Monday. Nevro Corp. has a 12 month low of $3.17 and a 12 month high of $11.65. 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 firm has a market capitalization of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. The company’s fifty day moving average price is $5.83 and its two-hundred day moving average price is $5.10.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. On average, research analysts anticipate that Nevro Corp. will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVRO. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and cut their target price for the company from $6.00 to $5.85 in a research note on Friday, February 7th. Canaccord Genuity Group raised their target price on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. StockNews.com initiated coverage on Nevro in a research note on Friday. They issued a “hold” rating for the company. Finally, Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and increased their target price for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.36.

About Nevro

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.