ArrowMark Colorado Holdings LLC Boosts Stake in Nevro Corp. (NYSE:NVRO)

ArrowMark Colorado Holdings LLC lifted its position in shares of Nevro Corp. (NYSE:NVRO) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,391,258 shares of the medical equipment provider’s stock after buying an additional 102,150 shares during the period. ArrowMark Colorado Holdings LLC owned about 11.72% of Nevro worth $24,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Nevro by 490.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after buying an additional 605,134 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after buying an additional 566,462 shares during the last quarter. Engaged Capital LLC grew its stake in shares of Nevro by 29.5% in the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after acquiring an additional 557,000 shares during the period. Millennium Management LLC raised its stake in Nevro by 21.4% during the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after buying an additional 168,573 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Nevro by 3,446.5% in the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after acquiring an additional 148,200 shares during the period. Institutional investors own 95.52% of the company’s stock.

Nevro Price Performance

NVRO stock opened at $4.60 on Monday. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. Nevro Corp. has a 12 month low of $3.95 and a 12 month high of $22.64. The stock has a market cap of $172.36 million, a PE ratio of -2.43 and a beta of 0.93. The company has a 50-day moving average price of $4.97 and a 200 day moving average price of $6.86.

Nevro (NYSE:NVRO) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. During the same period in the prior year, the business earned ($0.65) EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts anticipate that Nevro Corp. will post -2.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on NVRO. Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $9.00 to $4.00 in a report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Wells Fargo & Company lowered Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Truist Financial decreased their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, Nevro currently has a consensus rating of “Hold” and an average price target of $8.60.

About Nevro

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.