Bank of New York Mellon Corp Has $1.08 Million Holdings in Nevro Corp. (NYSE:NVRO)

Bank of New York Mellon Corp increased its holdings in shares of Nevro Corp. (NYSE:NVRO) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,866 shares of the medical equipment provider’s stock after acquiring an additional 8,673 shares during the quarter. Bank of New York Mellon Corp owned about 0.35% of Nevro worth $1,077,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of NVRO. Nisa Investment Advisors LLC grew its position in shares of Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Nevro by 490.7% during the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after buying an additional 605,134 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Nevro by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock worth $651,000 after acquiring an additional 7,004 shares during the period. Acadian Asset Management LLC raised its holdings in Nevro by 48.2% in the 1st quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider’s stock valued at $1,369,000 after acquiring an additional 30,863 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Nevro by 35.8% during the 1st quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock valued at $753,000 after acquiring an additional 13,750 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Price Performance

Shares of NYSE:NVRO opened at $5.85 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. Nevro Corp. has a 52-week low of $4.38 and a 52-week high of $22.64. The company has a market capitalization of $214.86 million, a PE ratio of -2.55 and a beta of 0.95. The company has a fifty day moving average of $6.90 and a 200-day moving average of $9.65.

Nevro (NYSE:NVRO) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.10. The firm had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned ($0.69) earnings per share. On average, equities analysts predict that Nevro Corp. will post -2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NVRO has been the topic of several analyst reports. Truist Financial reduced their target price on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reduced their price objective on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. StockNews.com cut shares of Nevro from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird decreased their price objective on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.63.

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.