Assenagon Asset Management S.A. Sells 258,521 Shares of Nevro Corp. (NYSE:NVRO)

Assenagon Asset Management S.A. cut its holdings in shares of Nevro Corp. (NYSE:NVRO) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,827 shares of the medical equipment provider’s stock after selling 258,521 shares during the period. Assenagon Asset Management S.A.’s holdings in Nevro were worth $2,495,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Rhumbline Advisers grew its position in Nevro by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after purchasing an additional 2,836 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Nevro by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider’s stock worth $3,099,000 after buying an additional 17,600 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Nevro by 13.9% in the second quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock worth $500,000 after acquiring an additional 7,250 shares during the period. Hsbc Holdings PLC increased its position in Nevro by 21.4% during the second quarter. Hsbc Holdings PLC now owns 55,604 shares of the medical equipment provider’s stock valued at $459,000 after acquiring an additional 9,793 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in Nevro by 84.6% in the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock valued at $208,000 after acquiring an additional 11,323 shares during the period. 95.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVRO has been the subject of a number of recent research reports. Truist Financial cut their price target on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research note on Wednesday, December 18th. JMP Securities restated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Canaccord Genuity Group dropped their price target on shares of Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Finally, Robert W. Baird boosted their price objective on shares of Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat.com, Nevro has an average rating of “Hold” and an average price target of $6.30.

Nevro Price Performance

NYSE:NVRO opened at $4.90 on Thursday. The business’s 50-day simple moving average is $4.10 and its two-hundred day simple moving average is $5.52. Nevro Corp. has a 52 week low of $3.16 and a 52 week high of $19.47. The stock has a market cap of $183.68 million, a PE ratio of -2.59 and a beta of 0.86. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. During the same quarter last year, the business posted ($0.65) earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts forecast that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Nevro Profile

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.