12,720 Shares in Nevro Corp. (NYSE:NVRO) Purchased by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in Nevro Corp. (NYSE:NVRO) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 12,720 shares of the medical equipment provider’s stock, valued at approximately $71,000.

Several other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in shares of Nevro by 3,446.5% in the second 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. Algert Global LLC increased its position in shares of Nevro by 57.3% during the second quarter. Algert Global LLC now owns 216,572 shares of the medical equipment provider’s stock worth $1,824,000 after purchasing an additional 78,895 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in Nevro by 18.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 118,574 shares of the medical equipment provider’s stock valued at $998,000 after purchasing an additional 18,458 shares during the last quarter. Millennium Management LLC lifted its holdings in Nevro by 21.4% in the 2nd 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 in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Nevro during the 2nd quarter worth $470,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVRO has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Truist Financial decreased their target price on shares of Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Citigroup lowered their target price on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Finally, Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.55.

Nevro Stock Performance

Shares of Nevro stock opened at $4.91 on Tuesday. The business’s fifty day simple moving average is $5.33 and its 200-day simple moving average is $8.03. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The firm has a market cap of $183.04 million, a PE ratio of -2.31 and a beta of 0.94. Nevro Corp. has a 52 week low of $4.38 and a 52 week high of $22.64.

Nevro (NYSE:NVRO) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.10. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The company had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same quarter in the prior year, the company posted ($0.69) earnings per share. Nevro’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts forecast that Nevro Corp. will post -2.6 earnings per share 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.