Millennium Management LLC Increases Holdings in Nevro Corp. (NYSE:NVRO)

Millennium Management LLC boosted its holdings in Nevro Corp. (NYSE:NVRO - Free Report) by 21.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 956,542 shares of the medical equipment provider's stock after acquiring an additional 168,573 shares during the quarter. Millennium Management LLC owned about 2.60% of Nevro worth $8,054,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in shares of Nevro during the 2nd quarter valued at approximately $470,000. Armistice Capital LLC raised its holdings in Nevro by 1.3% during the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider's stock worth $30,918,000 after purchasing an additional 48,000 shares during the last quarter. 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 in the last quarter. XTX Topco Ltd grew its holdings in Nevro by 84.6% in the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider's stock valued at $208,000 after purchasing an additional 11,323 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Nevro by 21.4% in the second quarter. Hsbc Holdings PLC now owns 55,604 shares of the medical equipment provider's stock valued at $459,000 after buying an additional 9,793 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company's stock.

Nevro Trading Down 1.9 %

NYSE:NVRO traded down $0.09 during mid-day trading on Thursday, reaching $4.61. The company's stock had a trading volume of 266,262 shares, compared to its average volume of 565,102. 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 $169.32 million, a P/E ratio of -2.01 and a beta of 0.94. The company's fifty day simple moving average is $5.64 and its two-hundred day simple moving average is $8.76. Nevro Corp. has a twelve month low of $4.38 and a twelve month high of $22.64.

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

Wall Street Analysts Forecast Growth

NVRO has been the topic of a number of research reports. Truist Financial lowered 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. Morgan Stanley dropped their price objective on shares of Nevro from $14.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, July 15th. JMP Securities lowered Nevro from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their target price on Nevro from $16.00 to $7.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup cut their price target on Nevro from $6.89 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.