XTX Topco Ltd Buys 11,323 Shares of Nevro Corp. (NYSE:NVRO)

XTX Topco Ltd lifted its position in Nevro Corp. (NYSE:NVRO) by 84.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,711 shares of the medical equipment provider’s stock after purchasing an additional 11,323 shares during the period. XTX Topco Ltd owned about 0.07% of Nevro worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of NVRO. Nisa Investment Advisors LLC grew its position in shares of 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 worth $58,000 after purchasing an additional 6,565 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of 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 worth $167,000 after acquiring an additional 1,430 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake 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 acquiring an additional 9,586 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Nevro by 18.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after acquiring an additional 7,004 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Nevro by 189.3% in the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider’s stock worth $745,000 after purchasing an additional 33,760 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NVRO shares. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. JMP Securities downgraded Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler reduced their target price on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.63.

Nevro Stock Performance

Nevro stock opened at $5.29 on Monday. Nevro Corp. has a 1-year low of $4.38 and a 1-year high of $22.64. The company’s 50-day moving average is $6.48 and its 200 day moving average is $9.29. The firm has a market capitalization of $194.30 million, a P/E ratio of -2.31 and a beta of 0.94. 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 issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The firm had revenue of $104.16 million during the quarter, compared to analyst estimates of $107.11 million. During the same period last year, the company earned ($0.69) EPS. Nevro’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that Nevro Corp. will post -2.6 EPS for the current year.

About Nevro

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.