Nevro Corp. (NYSE:NVRO) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its stake in shares of Nevro Corp. (NYSE:NVRO) by 26.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,776 shares of the medical equipment provider’s stock after selling 41,824 shares during the quarter. Jane Street Group LLC owned 0.30% of Nevro worth $636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVRO. Bank of New York Mellon Corp increased its position in shares of Nevro by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock worth $1,077,000 after acquiring an additional 8,673 shares during the last quarter. Rhumbline Advisers increased its position in shares of Nevro by 5.0% during the second quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after acquiring an additional 2,836 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Nevro by 154.1% during the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after acquiring an additional 146,276 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Nevro by 5.0% during the second quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider’s stock worth $3,099,000 after acquiring an additional 17,600 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of Nevro by 13.9% during the second quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock worth $500,000 after acquiring an additional 7,250 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Price Performance

NYSE:NVRO opened at $3.71 on Friday. The firm has a market capitalization of $139.02 million, a PE ratio of -1.96 and a beta of 0.86. The stock has a 50 day moving average of $4.42 and a 200-day moving average of $5.93. Nevro Corp. has a 52 week low of $3.52 and a 52 week high of $21.66. 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 posted its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.40. The company had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.65) earnings per share. Analysts predict that Nevro Corp. will post -2.43 EPS for the current year.

Wall Street Analyst Weigh In

NVRO has been the topic of a number of analyst reports. Wells Fargo & Company dropped their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Citigroup dropped their target price on Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Truist Financial lowered their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a report on Tuesday, November 12th. Three 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, the company currently has an average rating of “Hold” and a consensus price target of $6.30.

Nevro Company 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.