XTX Topco Ltd Trims Holdings in Nevro Corp. (NYSE:NVRO)

XTX Topco Ltd decreased its position in shares of Nevro Corp. (NYSE:NVRO) by 32.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,608 shares of the medical equipment provider’s stock after selling 8,103 shares during the quarter. XTX Topco Ltd’s holdings in Nevro were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Nevro by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after buying an additional 2,836 shares during the period. Nisa Investment Advisors LLC grew its position 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 worth $58,000 after acquiring an additional 6,565 shares during the period. Blair William & Co. IL increased its stake in 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. Canada Pension Plan Investment Board raised its position in Nevro by 345.8% in the second 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 during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Nevro by 7.3% in 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 purchasing an additional 8,673 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Stock Up 5.6 %

Shares of NYSE NVRO opened at $3.79 on Friday. The stock has a market cap of $142.02 million, a P/E ratio of -2.01 and a beta of 0.84. The business’s fifty day simple moving average is $4.66 and its 200-day simple moving average is $6.29. Nevro Corp. has a 12-month low of $3.52 and a 12-month high of $22.52. 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 quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. During the same quarter last year, the company earned ($0.65) EPS. Nevro’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, equities analysts predict that Nevro Corp. will post -2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird raised their price objective on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. JMP Securities restated a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group decreased their price target on Nevro from $7.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat.com, Nevro has a consensus rating of “Hold” and a consensus target price of $6.30.

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.