Jacobs Levy Equity Management Inc. Buys 246,979 Shares of Nevro Corp. (NYSE:NVRO)

Jacobs Levy Equity Management Inc. increased its position in Nevro Corp. (NYSE:NVRO - Free Report) by 50.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 732,717 shares of the medical equipment provider's stock after buying an additional 246,979 shares during the period. Jacobs Levy Equity Management Inc. owned 1.96% of Nevro worth $4,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $58,000 after buying an additional 6,565 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Nevro in the 3rd quarter valued at approximately $69,000. SG Americas Securities LLC bought a new position in shares of Nevro in the 3rd quarter valued at approximately $71,000. Quantbot Technologies LP lifted its holdings in Nevro by 1,290.4% in 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 boosted its position in 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 purchasing an additional 8,300 shares during the period. Institutional investors own 95.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $7.00 price objective on shares of Nevro in a research note on Tuesday, November 12th. Citigroup cut their target price on shares of Nevro from $6.89 to $6.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. JMP Securities reaffirmed a "market perform" rating on shares of Nevro in a research report on Tuesday, November 12th. Wells Fargo & Company started coverage on Nevro in a research report on Tuesday. They set an "equal weight" rating and a $5.00 price objective for the company. Finally, Morgan Stanley lowered Nevro from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $8.55.

Nevro Price Performance

Shares of NYSE:NVRO traded up $0.12 during trading on Friday, hitting $4.19. 433,982 shares of the stock were exchanged, compared to its average volume of 721,894. The company's fifty day simple moving average is $4.84 and its 200-day simple moving average is $6.68. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. Nevro Corp. has a 1-year low of $3.95 and a 1-year high of $22.64.

Nevro (NYSE:NVRO - Get Free Report) last posted its quarterly earnings results 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 net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same quarter in the previous year, the company earned ($0.65) earnings per share. The business's revenue was down 7.0% compared to the same quarter last year. Analysts forecast that Nevro Corp. will post -2.43 earnings per share 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.