Point72 DIFC Ltd Reduces Stock Position in Nevro Corp. (NYSE:NVRO)

Point72 DIFC Ltd reduced its holdings in Nevro Corp. (NYSE:NVRO) by 54.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,400 shares of the medical equipment provider’s stock after selling 4,120 shares during the period. Point72 DIFC Ltd’s holdings in Nevro were worth $29,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after buying an additional 6,565 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings 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 worth $90,000 after acquiring an additional 8,300 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings 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 acquiring an additional 1,430 shares during the last quarter. XTX Topco Ltd lifted its holdings 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 during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Nevro by 45.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock worth $444,000 after acquiring an additional 9,586 shares during the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVRO has been the subject of several analyst reports. StockNews.com lowered shares of Nevro from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Morgan Stanley lowered their target price on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Citigroup upgraded shares of Nevro from a “sell” rating to a “neutral” rating and set a $6.89 target price for the company in a report on Friday, August 9th. JMP Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Finally, Truist Financial lowered their price objective on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat, Nevro has a consensus rating of “Hold” and a consensus price target of $10.63.

Nevro Price Performance

Shares of NVRO opened at $5.29 on Monday. The company has a 50 day moving average price of $6.48 and a 200-day moving average price of $9.29. Nevro Corp. has a fifty-two week low of $4.38 and a fifty-two week high of $22.64. The stock has a market capitalization of $194.30 million, a PE ratio of -2.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $104.16 million during the quarter, compared to analysts’ expectations of $107.11 million. During the same quarter in the prior year, the company earned ($0.69) EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that Nevro Corp. will post -2.6 earnings per share for the current fiscal year.

Nevro 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.