Hsbc Holdings PLC Has $459,000 Stock Holdings in Nevro Corp. (NYSE:NVRO)

Hsbc Holdings PLC boosted its holdings in shares of Nevro Corp. (NYSE:NVRO) by 21.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,604 shares of the medical equipment provider’s stock after buying an additional 9,793 shares during the period. Hsbc Holdings PLC owned approximately 0.15% of Nevro worth $459,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NVRO. Norges Bank acquired a new position in Nevro during the fourth quarter worth $8,498,000. Goldman Sachs Group Inc. raised its holdings in Nevro by 69.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after buying an additional 431,136 shares during the last quarter. Nomura Holdings Inc. raised its holdings in Nevro by 28.1% during the fourth quarter. Nomura Holdings Inc. now owns 59,250 shares of the medical equipment provider’s stock worth $1,275,000 after buying an additional 13,000 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Nevro by 189.3% during the first quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock worth $745,000 after buying an additional 33,760 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Nevro by 45.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 9,586 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Price Performance

Shares of NYSE:NVRO opened at $5.23 on Wednesday. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $192.09 million, a PE ratio of -2.28 and a beta of 0.94. Nevro Corp. has a twelve month low of $4.38 and a twelve month high of $22.64. The company has a 50-day moving average price of $6.40 and a two-hundred day moving average price of $9.20.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada lowered their target price on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lowered their target price on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. downgraded shares of Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.55.

Nevro Company 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.