Point72 DIFC Ltd Sells 4,120 Shares of Nevro Corp. (NYSE:NVRO)

Point72 DIFC Ltd trimmed its position in shares of Nevro Corp. (NYSE:NVRO) by 54.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,400 shares of the medical equipment provider’s stock after selling 4,120 shares during the quarter. Point72 DIFC Ltd’s holdings in Nevro were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Nevro by 1,788.8% during 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 in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Nevro by 345.8% during 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 in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Nevro by 14.1% in the 1st 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 during the period. XTX Topco Ltd increased its stake in shares of Nevro by 84.6% in the 2nd quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 11,323 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Nevro by 45.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock valued at $444,000 after acquiring an additional 9,586 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NVRO shares. Robert W. Baird decreased their target price on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Truist Financial reduced their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Piper Sandler cut their target price on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock 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 Monday. Finally, Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.55.

Nevro Stock Down 4.1 %

NVRO opened at $4.95 on Friday. Nevro Corp. has a twelve month low of $4.38 and a twelve month high of $22.64. 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 50 day moving average price of $6.12 and a 200-day moving average price of $9.08. The stock has a market capitalization of $181.81 million, a price-to-earnings ratio of -2.16 and a beta of 0.94.

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

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.