Nevro Corp. (NYSE:NVRO) Shares Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. boosted its stake in Nevro Corp. (NYSE:NVRO) by 7,506.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,114 shares of the medical equipment provider’s stock after buying an additional 16,889 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Nevro were worth $96,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVRO. Nisa Investment Advisors LLC lifted its position in shares of 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 valued at $58,000 after acquiring an additional 6,565 shares in the last quarter. Intech Investment Management LLC acquired a new position in Nevro in the 3rd quarter valued at $69,000. SG Americas Securities LLC purchased a new position in Nevro in the 3rd quarter valued at $71,000. Quantbot Technologies LP boosted its stake in Nevro by 1,290.4% during the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after purchasing an additional 13,381 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 8,300 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Nevro Stock Performance

NYSE NVRO opened at $4.07 on Friday. The stock has a fifty day simple moving average of $4.86 and a 200-day simple moving average of $6.73. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock has a market cap of $152.50 million, a PE ratio of -2.15 and a beta of 0.84. Nevro Corp. has a twelve month low of $3.95 and a twelve month high of $22.64.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. During the same period last year, the business earned ($0.65) earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts anticipate that Nevro Corp. will post -2.43 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on NVRO. Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $9.00 to $4.00 in a research note on Monday. Citigroup dropped their price target on Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Robert W. Baird lifted 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. Canaccord Genuity Group dropped their target price on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, Wells Fargo & Company started coverage on Nevro in a report on Tuesday. They set an “equal weight” rating and a $5.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.55.

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.