Tower Research Capital LLC TRC Sells 10,667 Shares of Nevro Corp. (NYSE:NVRO)

Tower Research Capital LLC TRC trimmed its stake in Nevro Corp. (NYSE:NVRO) by 59.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,145 shares of the medical equipment provider’s stock after selling 10,667 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Nevro were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Amundi bought a new position in shares of Nevro in the fourth quarter worth about $30,000. Headlands Technologies LLC purchased a new position in shares of Nevro during the fourth quarter worth approximately $45,000. Ieq Capital LLC purchased a new position in Nevro during the fourth quarter valued at approximately $46,000. SG Americas Securities LLC grew its position in shares of Nevro by 34.6% in the 4th quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock worth $64,000 after buying an additional 4,406 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in Nevro by 59.9% in the 4th quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock worth $67,000 after purchasing an additional 6,725 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

Nevro Stock Up 0.1%

NYSE:NVRO opened at $5.85 on Friday. Nevro Corp. has a 52 week low of $3.17 and a 52 week high of $11.65. 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 firm has a market capitalization of $224.32 million, a PE ratio of -3.09 and a beta of 0.81. The stock has a 50 day moving average of $5.83 and a 200-day moving average of $5.13.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler upgraded shares of Nevro from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Canaccord Genuity Group boosted their price objective on shares of Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a research report on Friday, February 7th. StockNews.com began coverage on Nevro in a research note on Friday, May 9th. They set a “hold” rating for the company. Finally, Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and upped their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.36.

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.