Nevro Corp. (NYSE:NVRO) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its position in Nevro Corp. (NYSE:NVRO) by 73.9% during the third quarter, HoldingsChannel reports. The firm owned 24,270 shares of the medical equipment provider’s stock after selling 68,689 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Nevro were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NVRO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock worth $5,590,000 after purchasing an additional 566,462 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Nevro by 3,446.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after buying an additional 148,200 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of 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 acquiring an additional 146,276 shares in the last quarter. Western Standard LLC acquired a new position in shares of Nevro during the 3rd quarter worth about $5,473,000. Finally, Millennium Management LLC raised its position in shares of Nevro by 21.4% during the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after acquiring an additional 168,573 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Price Performance

Shares of NVRO opened at $3.59 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro Corp. has a fifty-two week low of $3.56 and a fifty-two week high of $22.52. The firm has a 50-day simple moving average of $4.68 and a 200-day simple moving average of $6.35. The company has a market capitalization of $134.52 million, a price-to-earnings ratio of -1.90 and a beta of 0.84.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $93.09 million. During the same period last year, the firm earned ($0.65) EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities research analysts anticipate that Nevro Corp. will post -2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

NVRO has been the subject of a number of research analyst reports. Morgan Stanley downgraded Nevro from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Piper Sandler lowered their target price on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. Truist Financial cut their price target on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday. JMP Securities restated a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Finally, StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.97.

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.