Point72 DIFC Ltd Cuts Stock Holdings in Nevro Corp. (NYSE:NVRO)

Point72 DIFC Ltd decreased its position in shares of Nevro Corp. (NYSE:NVRO) by 54.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,400 shares of the medical equipment provider’s stock after selling 4,120 shares during the quarter. Point72 DIFC Ltd’s holdings in Nevro were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in Nevro by 1,788.8% during the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares during the period. Canada Pension Plan Investment Board lifted its position in Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Nevro by 14.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 1,430 shares during the period. XTX Topco Ltd lifted its position in Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock valued at $208,000 after purchasing an additional 11,323 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in Nevro by 45.3% during 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 period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup upgraded shares of Nevro from a “sell” rating to a “neutral” rating and set a $6.89 price objective on the stock in a research report on Friday, August 9th. Robert W. Baird decreased their price target on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler decreased their price target on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Finally, Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.63.

Nevro Stock Up 1.7 %

Shares of NVRO stock opened at $5.29 on Monday. The company has a market capitalization of $194.30 million, a price-to-earnings ratio of -2.31 and a beta of 0.94. Nevro Corp. has a one year low of $4.38 and a one year high of $22.64. The company’s fifty day moving average price is $6.48 and its 200-day moving average price is $9.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.10. The firm had revenue of $104.16 million for the quarter, compared to the consensus estimate 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 revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned ($0.69) EPS. Sell-side analysts expect that Nevro Corp. will post -2.6 EPS for the current fiscal 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.