Nevro Corp. (NYSE:NVRO) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of Nevro Corp. (NYSE:NVRO) by 14.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,032 shares of the medical equipment provider’s stock after selling 6,844 shares during the period. Hsbc Holdings PLC’s holdings in Nevro were worth $147,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Nevro by 12.9% during the 4th quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock worth $138,000 after acquiring an additional 4,224 shares during the period. SG Americas Securities LLC raised its stake in shares of Nevro by 34.6% in the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 4,406 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Nevro by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 21,595 shares of the medical equipment provider’s stock worth $80,000 after purchasing an additional 4,971 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Nevro by 59.9% during the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock worth $67,000 after purchasing an additional 6,725 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Nevro by 62.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 20,548 shares of the medical equipment provider’s stock valued at $76,000 after buying an additional 7,889 shares during the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Nevro in a research report on Friday. They set a “hold” rating for the company. Canaccord Genuity Group raised their target price on shares of Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a report on Friday, February 7th. Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and boosted their target price for the company from $4.50 to $5.85 in a research report on Monday, February 10th. Finally, Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $6.00 to $5.85 in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Nevro has an average rating of “Hold” and an average target price of $5.36.

Nevro Stock Performance

Shares of NYSE NVRO opened at $5.85 on Monday. The company has a market capitalization of $224.32 million, a PE ratio of -3.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The company’s fifty day moving average price is $5.83 and its 200 day moving average price is $5.10. Nevro Corp. has a 1 year low of $3.17 and a 1 year high of $11.65.

Nevro (NYSE:NVRO) last posted its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. On average, research analysts predict that Nevro Corp. will post -2.44 earnings per share for the current 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.