SG Americas Securities LLC Increases Holdings in Nevro Corp. (NYSE:NVRO)

SG Americas Securities LLC raised its stake in shares of Nevro Corp. (NYSE:NVRO) by 34.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,126 shares of the medical equipment provider’s stock after buying an additional 4,406 shares during the period. SG Americas Securities LLC’s holdings in Nevro were worth $64,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Nevro during the 3rd quarter valued at $63,000. Charles Schwab Investment Management Inc. grew its position in shares of Nevro by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock valued at $1,698,000 after acquiring an additional 11,369 shares during the period. Intech Investment Management LLC bought a new stake in shares of Nevro during the 3rd quarter valued at $69,000. Quantbot Technologies LP grew its position 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 acquiring an additional 13,381 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of Nevro by 7,506.2% during 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 period. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Nevro Stock Down 0.1 %

Shares of NVRO stock opened at $5.72 on Friday. The stock has a market cap of $214.14 million, a P/E ratio of -3.02 and a beta of 0.91. Nevro Corp. has a 52 week low of $3.16 and a 52 week high of $17.63. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $4.39 and its two-hundred day simple moving average is $5.09.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40. The business 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%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.65) EPS. Analysts predict that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NVRO has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research report on Friday, February 7th. Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. 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. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $6.00 to $5.85 in a research report on Friday, February 7th. Finally, Citigroup cut their price objective on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Nevro currently has an average rating of “Hold” and an average price target 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.