Nevro Corp. (NYSE:NVRO) Shares Sold by Barclays PLC

Barclays PLC reduced its stake in shares of Nevro Corp. (NYSE:NVRO) by 59.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,496 shares of the medical equipment provider’s stock after selling 88,518 shares during the period. Barclays PLC owned approximately 0.16% of Nevro worth $344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NVRO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock worth $5,590,000 after purchasing an additional 566,462 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Nevro by 3,446.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock valued at $1,284,000 after acquiring an additional 148,200 shares in the last quarter. Western Standard LLC purchased a new stake in shares of Nevro in the third quarter valued at about $5,473,000. Millennium Management LLC grew its position in shares of Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after purchasing an additional 168,573 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Nevro by 3.9% in 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 buying an additional 11,369 shares in the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

Nevro Stock Performance

Nevro stock opened at $4.57 on Monday. The firm has a market capitalization of $171.28 million, a PE ratio of -2.42 and a beta of 0.86. Nevro Corp. has a one year low of $3.16 and a one year high of $19.47. The stock’s 50 day moving average price is $4.12 and its 200 day moving average price is $5.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. During the same period last year, the business earned ($0.65) EPS. The business’s revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVRO. Royal Bank of Canada restated a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th. StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. Citigroup dropped their target price on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, JMP Securities reissued a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, Nevro presently has an average rating of “Hold” and an average price target of $6.30.

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.