Centiva Capital LP Cuts Stake in Nevro Corp. (NYSE:NVRO)

Centiva Capital LP lessened its stake in shares of Nevro Corp. (NYSE:NVRO) by 46.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,462 shares of the medical equipment provider’s stock after selling 20,063 shares during the quarter. Centiva Capital LP owned 0.06% of Nevro worth $131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers grew its holdings in Nevro by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after purchasing an additional 2,836 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Nevro by 1,788.8% during the 2nd 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. Blair William & Co. IL increased its holdings in Nevro by 13.9% during the 2nd quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 7,250 shares during the last quarter. Canada Pension Plan Investment Board raised its position 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 purchasing an additional 8,300 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Nevro by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock valued at $1,077,000 after buying an additional 8,673 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Wells Fargo & Company cut their target price on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Canaccord Genuity Group decreased their price target on Nevro from $7.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Robert W. Baird upped their price objective on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to MarketBeat, Nevro presently has a consensus rating of “Hold” and an average target price of $8.05.

Nevro Trading Down 3.4 %

Shares of NYSE NVRO opened at $4.08 on Friday. The company has a market cap of $152.69 million, a price-to-earnings ratio of -2.15 and a beta of 0.84. The stock’s 50 day simple moving average is $4.77 and its 200 day simple moving average is $6.54. 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 Corp. has a 12-month low of $3.92 and a 12-month high of $22.64.

Nevro (NYSE:NVRO) last released its quarterly 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 business had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. Equities research analysts expect that Nevro Corp. will post -2.43 EPS for the current 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.