Federated Hermes Inc. Has $9.28 Million Position in Nevro Corp. (NYSE:NVRO)

Federated Hermes Inc. grew its holdings in Nevro Corp. (NYSE:NVRO) by 380.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 431,153 shares of the medical equipment provider’s stock after purchasing an additional 341,343 shares during the quarter. Federated Hermes Inc. owned about 1.19% of Nevro worth $9,278,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new position in Nevro in the third quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nevro by 83.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,970 shares of the medical equipment provider’s stock valued at $192,000 after acquiring an additional 4,547 shares during the period. Versor Investments LP lifted its stake in shares of Nevro by 22.9% during the third quarter. Versor Investments LP now owns 11,017 shares of the medical equipment provider’s stock valued at $212,000 after acquiring an additional 2,050 shares during the period. Natixis Advisors L.P. acquired a new position in shares of Nevro during the third quarter valued at $248,000. Finally, SG Americas Securities LLC acquired a new position in shares of Nevro during the third quarter valued at $274,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Stock Down 2.0 %

Shares of Nevro stock opened at $12.53 on Thursday. Nevro Corp. has a 1 year low of $11.98 and a 1 year high of $34.86. The business has a 50-day moving average of $14.16 and a two-hundred day moving average of $16.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.35. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The company had revenue of $116.18 million during the quarter, compared to the consensus estimate of $115.93 million. Analysts anticipate that Nevro Corp. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVRO shares. Robert W. Baird cut their price target on Nevro from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Mizuho cut their target price on Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Royal Bank of Canada cut their target price on Nevro from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Monday, April 15th. Finally, Citigroup cut their target price on Nevro from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.23.

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.