Nevro Corp. (NYSE:NVRO) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its holdings in shares of Nevro Corp. (NYSE:NVRO - Free Report) by 3,446.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,500 shares of the medical equipment provider's stock after purchasing an additional 148,200 shares during the period. Point72 Asset Management L.P. owned 0.42% of Nevro worth $1,284,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NVRO. Nisa Investment Advisors LLC boosted its position in Nevro by 1,788.8% during the 2nd 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. Canada Pension Plan Investment Board grew its stake in Nevro by 345.8% in the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider's stock valued at $90,000 after purchasing an additional 8,300 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider's stock worth $167,000 after purchasing an additional 1,430 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider's stock valued at $208,000 after buying an additional 11,323 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Nevro by 45.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider's stock valued at $444,000 after buying an additional 9,586 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Nevro Stock Performance

NYSE:NVRO traded up $0.02 during mid-day trading on Friday, hitting $4.97. The company's stock had a trading volume of 271,997 shares, compared to its average volume of 571,577. Nevro Corp. has a 1 year low of $4.38 and a 1 year high of $22.64. 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 stock has a market cap of $182.54 million, a price-to-earnings ratio of -2.17 and a beta of 0.94. The business's fifty day moving average is $6.12 and its two-hundred day moving average is $9.08.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wolfe Research upgraded shares of Nevro from an "underperform" rating to a "peer perform" rating in a research note on Thursday, August 8th. Truist Financial dropped their target price on Nevro from $10.00 to $5.50 and set a "hold" rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut Nevro from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $13.00 to $5.50 in a research note on Wednesday, August 7th. Robert W. Baird dropped their price target on Nevro from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered shares of Nevro from a "neutral" rating to an "underweight" rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat, Nevro has an average rating of "Hold" and a consensus price target of $10.55.

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.