Assenagon Asset Management S.A. raised its holdings in shares of Nevro Corp. (NYSE:NVRO – Free Report) by 97.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 436,498 shares of the medical equipment provider’s stock after purchasing an additional 215,426 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.22% of Nevro worth $15,779,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Nevro by 0.6% during the third quarter. BlackRock Inc. now owns 4,871,522 shares of the medical equipment provider’s stock valued at $227,012,000 after buying an additional 29,906 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Nevro by 1.7% in the third quarter. Vanguard Group Inc. now owns 3,621,085 shares of the medical equipment provider’s stock valued at $168,743,000 after purchasing an additional 60,289 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Nevro by 19.1% in the first quarter. Wellington Management Group LLP now owns 1,797,160 shares of the medical equipment provider’s stock valued at $129,989,000 after purchasing an additional 287,936 shares during the period. Norges Bank purchased a new stake in shares of Nevro in the fourth quarter valued at approximately $50,205,000. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of Nevro by 8.8% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,252,218 shares of the medical equipment provider’s stock valued at $49,588,000 after purchasing an additional 101,158 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.
Insiders Place Their Bets
In related news, Director Shawn Mccormick purchased 7,500 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were bought at an average cost of $22.88 per share, with a total value of $171,600.00. Following the transaction, the director now owns 26,866 shares of the company’s stock, valued at $614,694.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by insiders.
Nevro Stock Down 0.4 %
Nevro (NYSE:NVRO – Free Report) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.08. The firm had revenue of $96.33 million for the quarter, compared to the consensus estimate of $95.35 million. Nevro had a negative return on equity of 34.61% and a net margin of 0.55%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.98) EPS. As a group, analysts anticipate that Nevro Corp. will post -2.51 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently issued reports on NVRO shares. Mizuho started coverage on Nevro in a report on Thursday, April 13th. They issued a “neutral” rating and a $40.00 price target for the company. Truist Financial lowered their target price on Nevro from $32.00 to $30.00 in a report on Tuesday, June 6th. Oppenheimer upgraded Nevro from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, May 15th. StockNews.com assumed coverage on Nevro in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lowered their target price on Nevro from $40.00 to $28.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.64.
Nevro Company Profile
Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation system for the treatment of chronic pain, as well as Senza II and Senza Omnia SCS systems.
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