XTX Topco Ltd Purchases 11,323 Shares of Nevro Corp. (NYSE:NVRO)

XTX Topco Ltd grew its position in Nevro Corp. (NYSE:NVRO) by 84.6% during the second quarter, Holdings Channel reports. The institutional investor owned 24,711 shares of the medical equipment provider’s stock after acquiring an additional 11,323 shares during the quarter. XTX Topco Ltd’s holdings in Nevro were worth $208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after acquiring an additional 605,134 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Nevro by 69.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after purchasing an additional 431,136 shares in the last quarter. Norges Bank purchased a new position in Nevro during the 4th quarter worth $8,498,000. Acadian Asset Management LLC grew its stake in Nevro by 154.1% during the 2nd quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 146,276 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Nevro during the 1st quarter valued at about $1,446,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NVRO. Citigroup raised Nevro from a “sell” rating to a “neutral” rating and set a $6.89 price target for the company in a report on Friday, August 9th. Robert W. Baird lowered 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. JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Finally, Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.63.

Nevro Stock Up 1.7 %

Shares of NVRO opened at $5.29 on Monday. The company has a market capitalization of $194.30 million, a price-to-earnings ratio of -2.31 and a beta of 0.94. 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 $6.48 and its 200-day moving average price is $9.29. 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 (NYSE:NVRO) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.10. The business had revenue of $104.16 million for the quarter, compared to analyst estimates of $107.11 million. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.69) EPS. On average, sell-side analysts predict that Nevro Corp. will post -2.6 EPS 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.