State Street Corp Sells 241,495 Shares of Nevro Corp. (NYSE:NVRO)

State Street Corp trimmed its holdings in Nevro Corp. (NYSE:NVRO) by 24.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 752,631 shares of the medical equipment provider’s stock after selling 241,495 shares during the period. State Street Corp’s holdings in Nevro were worth $4,207,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in Nevro in the 3rd quarter worth approximately $69,000. SG Americas Securities LLC purchased a new position in shares of Nevro in the third quarter worth $71,000. Quantbot Technologies LP boosted its position in shares of Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after acquiring an additional 13,381 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after acquiring an additional 8,300 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in Nevro by 7,506.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 17,114 shares of the medical equipment provider’s stock valued at $96,000 after acquiring an additional 16,889 shares during the last quarter. Institutional investors own 95.52% of the company’s stock.

Nevro Price Performance

NVRO stock opened at $3.72 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. The stock has a market cap of $139.40 million, a PE ratio of -1.97 and a beta of 0.84. Nevro Corp. has a 12 month low of $3.52 and a 12 month high of $22.52. The company has a 50-day moving average price of $4.54 and a 200 day moving average price of $6.08.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. During the same quarter in the previous year, the business earned ($0.65) EPS. Nevro’s revenue 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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NVRO shares. Wells Fargo & Company dropped their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and set a $7.00 price target on shares of Nevro in a report on Tuesday, November 12th. Citigroup decreased their price objective on Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Robert W. Baird boosted their price target on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Canaccord Genuity Group lowered their price objective on shares of Nevro from $7.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.30.

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.