D. E. Shaw & Co. Inc. Grows Position in Nevro Corp. (NYSE:NVRO)

D. E. Shaw & Co. Inc. increased its stake in Nevro Corp. (NYSE:NVRO) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,803,532 shares of the medical equipment provider’s stock after buying an additional 306,943 shares during the quarter. D. E. Shaw & Co. Inc. owned about 4.81% of Nevro worth $6,709,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Amundi acquired a new stake in shares of Nevro in the fourth quarter valued at about $30,000. Oxford Asset Management LLP acquired a new stake in Nevro during the 4th quarter valued at approximately $39,000. Corton Capital Inc. acquired a new stake in Nevro during the 4th quarter valued at approximately $43,000. Headlands Technologies LLC acquired a new stake in Nevro during the 4th quarter valued at approximately $45,000. Finally, Ieq Capital LLC acquired a new stake in Nevro during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVRO shares. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $6.00 to $5.85 in a research note on Friday, February 7th. StockNews.com started coverage on Nevro in a research note on Friday, May 9th. They set a “hold” rating for the company. Canaccord Genuity Group raised their price objective on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and raised their price objective for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.36.

Nevro Trading Up 0.1%

NYSE:NVRO opened at $5.85 on Friday. The company has a market cap of $224.32 million, a PE ratio of -3.09 and a beta of 0.81. Nevro Corp. has a 52 week low of $3.17 and a 52 week high of $11.65. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $5.83 and its two-hundred day moving average is $5.13.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.15. The business had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. On average, analysts predict that Nevro Corp. will post -2.44 EPS for the current year.

About Nevro

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.