SG Americas Securities LLC Buys Shares of 12,720 Nevro Corp. (NYSE:NVRO)

SG Americas Securities LLC purchased a new position in shares of Nevro Corp. (NYSE:NVRO) during the third quarter, Holdings Channel.com reports. The fund purchased 12,720 shares of the medical equipment provider’s stock, valued at approximately $71,000.

Several other hedge funds have also made changes to their positions in NVRO. Nisa Investment Advisors LLC boosted its holdings in Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after buying an additional 8,300 shares during the period. State Board of Administration of Florida Retirement System grew 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 buying an additional 1,430 shares in the last quarter. XTX Topco Ltd grew its position in shares of Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 11,323 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Nevro by 45.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock worth $444,000 after buying an additional 9,586 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

Nevro Trading Up 7.2 %

NYSE:NVRO opened at $4.91 on Tuesday. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. Nevro Corp. has a 52-week low of $4.38 and a 52-week high of $22.64. The stock’s 50 day moving average price is $5.33 and its 200 day moving average price is $8.03. The company has a market capitalization of $183.04 million, a PE ratio of -2.31 and a beta of 0.94.

Nevro (NYSE:NVRO) last announced 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 business had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same period in the previous year, the company posted ($0.69) EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that Nevro Corp. will post -2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NVRO shares. Truist Financial decreased their price target on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. 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 research note on Wednesday, August 7th. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Piper Sandler dropped their price objective on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Nevro currently has a consensus rating of “Hold” and an average target price of $10.55.

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.