Nevro Corp. (NYSE:NVRO) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its stake in shares of Nevro Corp. (NYSE:NVRO - Free Report) by 63.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,570 shares of the medical equipment provider's stock after selling 184,887 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.28% of Nevro worth $880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Nevro in the fourth quarter valued at approximately $8,498,000. Goldman Sachs Group Inc. raised its position in 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 valued at $22,554,000 after purchasing an additional 431,136 shares during the last quarter. Nomura Holdings Inc. boosted its stake in Nevro by 28.1% during the 4th quarter. Nomura Holdings Inc. now owns 59,250 shares of the medical equipment provider's stock worth $1,275,000 after purchasing an additional 13,000 shares during the period. BNP Paribas Financial Markets grew its position in Nevro by 189.3% during the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider's stock worth $745,000 after purchasing an additional 33,760 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Nevro by 45.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider's stock valued at $444,000 after purchasing an additional 9,586 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.

Nevro Price Performance

Shares of NVRO stock traded down $0.21 during midday trading on Thursday, reaching $4.95. 440,944 shares of the company traded hands, compared to its average volume of 573,145. The firm has a market cap of $181.81 million, a PE ratio of -2.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. The firm's 50 day simple moving average is $6.12 and its two-hundred day simple moving average is $9.08. Nevro Corp. has a 1-year low of $4.38 and a 1-year high of $22.64.

Nevro (NYSE:NVRO - Get Free Report) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $0.10. The company had revenue of $104.16 million for the quarter, compared to the consensus estimate of $107.11 million. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. Nevro's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.69) earnings per share. On average, equities research analysts expect that Nevro Corp. will post -2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVRO. StockNews.com upgraded shares of Nevro from a "sell" rating to a "hold" rating in a research note on Monday. Morgan Stanley lowered their target price on Nevro from $14.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. cut Nevro from a "neutral" rating to an "underweight" rating in a research note on Wednesday, August 7th. Wolfe Research upgraded shares of Nevro from an "underperform" rating to a "peer perform" rating in a research report on Thursday, August 8th. Finally, Truist Financial dropped their price objective on shares of Nevro from $10.00 to $5.50 and set a "hold" rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $10.55.

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.