Two Sigma Advisers LP Lowers Position in Nevro Corp. (NYSE:NVRO)

Two Sigma Advisers LP lessened its stake in Nevro Corp. (NYSE:NVRO) by 11.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,700 shares of the medical equipment provider’s stock after selling 31,200 shares during the quarter. Two Sigma Advisers LP’s holdings in Nevro were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Algert Global LLC lifted its holdings in shares of Nevro by 7.2% in the fourth quarter. Algert Global LLC now owns 61,233 shares of the medical equipment provider’s stock worth $228,000 after buying an additional 4,120 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Nevro by 12.9% in the fourth quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock worth $138,000 after buying an additional 4,224 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Nevro by 34.6% in the fourth 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 in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Nevro by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 21,595 shares of the medical equipment provider’s stock worth $80,000 after buying an additional 4,971 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of Nevro by 59.9% in the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock worth $67,000 after buying an additional 6,725 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on NVRO shares. Wall Street Zen started coverage on shares of Nevro in a report on Saturday, May 17th. They issued a “hold” rating on the stock. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and decreased 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 upped their price target for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Finally, Canaccord Genuity Group upped their price target on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.36.

Nevro Trading Up 0.1%

Shares of NVRO opened at $5.85 on Monday. Nevro Corp. has a twelve month low of $3.17 and a twelve month high of $10.37. The company has a market cap of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. 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 company’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $5.18.

Nevro (NYSE:NVRO) last announced its earnings results 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. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. As a group, analysts expect that Nevro Corp. will post -2.44 EPS for the current year.

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.