US Bancorp DE Reduces Stock Holdings in Nevro Corp. (NYSE:NVRO)

US Bancorp DE trimmed its position in Nevro Corp. (NYSE:NVRO) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,348 shares of the medical equipment provider’s stock after selling 2,000 shares during the period. US Bancorp DE’s holdings in Nevro were worth $42,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NVRO. Ieq Capital LLC purchased a new position in shares of Nevro during the 4th quarter valued at about $46,000. SG Americas Securities LLC lifted its position in shares of Nevro by 34.6% during the 4th quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after buying an additional 4,406 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Nevro during the 3rd quarter valued at about $63,000. M&T Bank Corp lifted its position in shares of Nevro by 54.0% during the 3rd quarter. M&T Bank Corp now owns 78,954 shares of the medical equipment provider’s stock valued at $442,000 after buying an additional 27,681 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Nevro by 2,310.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 72,300 shares of the medical equipment provider’s stock valued at $404,000 after buying an additional 69,300 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Nevro Stock Performance

NYSE:NVRO opened at $5.80 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. Nevro Corp. has a 1 year low of $3.17 and a 1 year high of $14.70. The stock’s 50 day simple moving average is $5.26 and its two-hundred day simple moving average is $4.93. The company has a market cap of $222.37 million, a price-to-earnings ratio of -3.07 and a beta of 0.94.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. As a group, equities 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 research firms have recently weighed in on NVRO. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $4.50 to $5.85 in a research report on Monday, February 10th. Citigroup lowered their price objective on Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $6.00 to $5.85 in a report on Friday, February 7th. Wells Fargo & Company lowered their price target on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group boosted their price target on Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nevro currently has a consensus rating of “Hold” and a consensus target price of $6.43.

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.