Nevro Corp. (NYSE:NVRO) Short Interest Update

Nevro Corp. (NYSE:NVRO) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,620,000 shares, a decline of 16.6% from the October 31st total of 3,140,000 shares. Based on an average daily trading volume, of 550,000 shares, the short-interest ratio is presently 4.8 days.

Institutional Investors Weigh In On Nevro

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC raised its position in shares of Nevro by 2.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock valued at $24,547,000 after acquiring an additional 102,150 shares during the period. Armistice Capital LLC lifted its holdings in Nevro by 1.3% during the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock worth $30,918,000 after acquiring an additional 48,000 shares in the last quarter. Engaged Capital LLC grew its stake in Nevro by 29.5% in the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after acquiring an additional 557,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Nevro by 130.7% in 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 acquiring an additional 566,462 shares in the last quarter. Finally, Western Standard LLC acquired a new position in shares of Nevro during the third quarter worth about $5,473,000. Institutional investors own 95.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial reduced their target price on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, August 8th. JMP Securities reissued a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Canaccord Genuity Group reduced their target price on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Citigroup dropped their target price on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Finally, Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.10.

Nevro Trading Up 0.4 %

Shares of NYSE NVRO opened at $4.60 on Monday. The business has a 50-day moving average price of $4.97 and a two-hundred day moving average price of $6.86. Nevro has a one year low of $3.95 and a one year high of $22.64. The firm has a market capitalization of $172.36 million, a PE ratio of -2.43 and a beta of 0.93. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

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