Engaged Capital LLC Has $13.66 Million Holdings in Nevro Corp. (NYSE:NVRO)

Engaged Capital LLC boosted its position in Nevro Corp. (NYSE:NVRO - Free Report) by 29.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,442,956 shares of the medical equipment provider's stock after buying an additional 557,000 shares during the quarter. Nevro makes up about 2.2% of Engaged Capital LLC's portfolio, making the stock its 9th biggest position. Engaged Capital LLC owned about 6.55% of Nevro worth $13,656,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased 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 during the last quarter. Intech Investment Management LLC acquired a new position in shares of Nevro during the 3rd quarter worth approximately $69,000. SG Americas Securities LLC bought a new stake in shares of Nevro during the 3rd quarter worth approximately $71,000. Quantbot Technologies LP boosted its holdings in shares of Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider's stock valued at $81,000 after buying an additional 13,381 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider's stock valued at $90,000 after buying an additional 8,300 shares during the last quarter. Institutional investors own 95.52% of the company's stock.

Analyst Ratings Changes

NVRO has been the topic of a number of recent analyst reports. JMP Securities restated a "market perform" rating on shares of Nevro in a report on Tuesday, November 12th. Wolfe Research raised shares of Nevro from an "underperform" rating to a "peer perform" rating in a report on Thursday, August 8th. Wells Fargo & Company cut Nevro from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Citigroup cut their price objective on Nevro from $6.89 to $6.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded Nevro from a "sell" rating to a "hold" rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company's stock. Based on data from MarketBeat, Nevro has an average rating of "Hold" and an average target price of $9.10.

Nevro Stock Performance

Shares of NYSE:NVRO traded up $0.02 on Friday, reaching $4.60. 158,228 shares of the company's stock were exchanged, compared to its average volume of 568,130. 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 Corp. has a twelve month low of $3.95 and a twelve month high of $22.64. The company has a fifty day moving average of $5.00 and a 200-day moving average of $6.95. The company has a market capitalization of $172.36 million, a price-to-earnings ratio of -2.44 and a beta of 0.93.

Nevro (NYSE:NVRO - Get Free Report) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted ($0.65) EPS. Nevro's quarterly revenue was down 7.0% on a year-over-year basis. On average, research analysts predict that Nevro Corp. will post -2.43 EPS for the current fiscal 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.