Nevro Corp. (NYSE:NVRO) Shares Acquired by Credit Suisse AG

Posted by on Jun 8th, 2023

Credit Suisse AG lifted its stake in shares of Nevro Corp. (NYSE:NVRO – Get Rating) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 528,932 shares of the medical equipment provider’s stock after purchasing an additional 8,940 shares during the quarter. Credit Suisse AG owned about 1.49% of Nevro worth $20,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NVRO. Quantbot Technologies LP bought a new stake in shares of Nevro during the 3rd quarter worth $54,000. UBS Group AG boosted its stake in shares of Nevro by 206.3% during the 4th quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 821 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Nevro during the 1st quarter worth $170,000. Van ECK Associates Corp bought a new stake in shares of Nevro during the 4th quarter worth $105,000. Finally, Barclays PLC boosted its position in shares of Nevro by 43.5% in the third quarter. Barclays PLC now owns 2,864 shares of the medical equipment provider’s stock worth $134,000 after buying an additional 868 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Oppenheimer raised Nevro from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Monday, May 15th. Citigroup reduced their price objective on Nevro from $37.00 to $27.00 in a research report on Wednesday. StockNews.com assumed coverage on Nevro in a research report on Thursday, May 18th. They set a “hold” rating for the company. Mizuho started coverage on Nevro in a report on Thursday, April 13th. They set a “neutral” rating and a $40.00 target price on the stock. Finally, Royal Bank of Canada started coverage on Nevro in a research note on Wednesday, May 31st. They issued an “outperform” rating and a $40.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.73.

Nevro Trading Down 1.6 %

NVRO opened at $23.11 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.63 and a current ratio of 7.15. Nevro Corp. has a 12 month low of $22.12 and a 12 month high of $53.34. The company has a fifty day simple moving average of $30.71 and a 200 day simple moving average of $35.07.

Nevro (NYSE:NVRO – Get Rating) last announced its earnings results on Wednesday, April 26th. The medical equipment provider reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. Nevro had a net margin of 0.55% and a negative return on equity of 34.61%. The firm had revenue of $96.33 million during the quarter, compared to analyst estimates of $95.35 million. During the same period in the prior year, the business earned ($0.98) EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts predict that Nevro Corp. will post -2.45 EPS for the current fiscal year.

Nevro Company Profile

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Nevro Corp. engages in the development of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes the senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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