PNC Financial Services Group Inc. Has $76,000 Position in Nevro Corp. (NYSE:NVRO)

PNC Financial Services Group Inc. lifted its position in Nevro Corp. (NYSE:NVRO) by 62.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,548 shares of the medical equipment provider’s stock after acquiring an additional 7,889 shares during the period. PNC Financial Services Group Inc.’s holdings in Nevro were worth $76,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Nevro during the 3rd quarter worth $63,000. Intech Investment Management LLC bought a new stake in shares of Nevro in the third quarter worth about $69,000. Ieq Capital LLC acquired a new stake in shares of Nevro during the fourth quarter worth about $46,000. Quantbot Technologies LP lifted its holdings in shares of Nevro by 1,290.4% during the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after purchasing an additional 13,381 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of 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 purchasing an additional 16,889 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Trading Up 0.9 %

Shares of Nevro stock opened at $5.84 on Wednesday. The stock has a market cap of $224.09 million, a P/E ratio of -3.09 and a beta of 0.94. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro Corp. has a 12-month low of $3.17 and a 12-month high of $14.70. The business’s 50 day moving average is $5.48 and its 200-day moving average is $4.94.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.15. The company had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Equities research analysts predict that Nevro Corp. will post -2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on NVRO shares. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and cut their price target for the company from $6.00 to $5.85 in a research note on Friday, February 7th. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $4.50 to $5.85 in a research report on Monday, February 10th. Truist Financial dropped their price target on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group lifted their target price on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.43.

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.