Nevro Corp. (NYSE:NVRO) Shares Bought by Engaged Capital LLC

Engaged Capital LLC boosted its holdings in shares of Nevro Corp. (NYSE:NVRO) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,442,956 shares of the medical equipment provider’s stock after purchasing an additional 557,000 shares during the quarter. Nevro makes up 2.2% of Engaged Capital LLC’s holdings, making the stock its 9th largest position. Engaged Capital LLC owned about 6.55% of Nevro worth $13,656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after acquiring an additional 6,565 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Nevro during the third quarter worth about $69,000. SG Americas Securities LLC purchased a new position in Nevro in the 3rd quarter valued at about $71,000. Quantbot Technologies LP increased its stake in Nevro by 1,290.4% during the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 13,381 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of 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 valued at $90,000 after acquiring an additional 8,300 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NVRO. JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a research report 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. Citigroup lowered their price target on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $7.00 target price on shares of Nevro in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.10.

Nevro Stock Performance

Shares of NVRO stock opened at $4.58 on Friday. The company has a 50-day moving average of $5.00 and a two-hundred day moving average of $6.95. Nevro Corp. has a 1-year low of $3.95 and a 1-year high of $22.64. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last posted its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same quarter last year, the firm earned ($0.65) EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts anticipate that Nevro Corp. will post -2.43 earnings per share for the current fiscal year.

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.