Assenagon Asset Management S.A. Sells 258,521 Shares of Nevro Corp. (NYSE:NVRO)

Assenagon Asset Management S.A. trimmed its stake in shares of Nevro Corp. (NYSE:NVRO) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,827 shares of the medical equipment provider’s stock after selling 258,521 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.79% of Nevro worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Nevro during the third quarter worth about $63,000. Intech Investment Management LLC bought a new position in Nevro during the 3rd quarter valued at approximately $69,000. SG Americas Securities LLC bought a new position in Nevro during the 3rd quarter valued at approximately $71,000. Quantbot Technologies LP lifted its holdings in Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 13,381 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 8,300 shares during the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NVRO. Citigroup cut their target price on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Morgan Stanley lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. Robert W. Baird upped their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. JMP Securities restated a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, Nevro has an average rating of “Hold” and an average target price of $6.30.

Nevro Trading Up 4.7 %

NYSE NVRO opened at $4.90 on Thursday. Nevro Corp. has a 12 month low of $3.16 and a 12 month high of $19.47. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average price is $4.10 and its 200-day moving average price is $5.52. The stock has a market cap of $183.68 million, a P/E ratio of -2.59 and a beta of 0.86.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. The company had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Nevro’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.65) EPS. As a group, equities analysts forecast that Nevro Corp. will post -2.43 EPS for the current fiscal year.

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.