Nevro Corp. (NYSE:NVRO) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its position in Nevro Corp. (NYSE:NVRO) by 26.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,776 shares of the medical equipment provider’s stock after selling 41,824 shares during the period. Jane Street Group LLC’s holdings in Nevro were worth $636,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Western Standard LLC acquired a new stake in Nevro in the third quarter worth approximately $5,473,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Nevro by 50.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock valued at $4,096,000 after acquiring an additional 246,979 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Nevro by 2.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock valued at $24,547,000 after acquiring an additional 102,150 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Nevro by 7,506.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 17,114 shares of the medical equipment provider’s stock valued at $96,000 after acquiring an additional 16,889 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of Nevro during the 3rd quarter valued at $99,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Stock Performance

NYSE NVRO opened at $3.71 on Friday. Nevro Corp. has a 1-year low of $3.52 and a 1-year high of $21.66. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $139.02 million, a PE ratio of -1.96 and a beta of 0.86. The firm’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $5.93.

Nevro (NYSE:NVRO) 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 business had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same period in the prior year, the business posted ($0.65) earnings per share. Nevro’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nevro Corp. will post -2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th. Truist Financial cut their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Canaccord Genuity Group cut their price objective on Nevro from $7.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, December 9th. Finally, StockNews.com upgraded Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.30.

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.