Norden Group LLC Acquires Shares of 22,625 Nevro Corp. (NYSE:NVRO)

Norden Group LLC bought a new stake in Nevro Corp. (NYSE:NVRO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 22,625 shares of the medical equipment provider’s stock, valued at approximately $84,000.

Other large investors have also made changes to their positions in the company. Western Standard LLC acquired a new position in Nevro in the third quarter valued at about $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Nevro by 130.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock worth $5,590,000 after acquiring an additional 566,462 shares in the last quarter. Engaged Capital LLC grew its position in Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after acquiring an additional 557,000 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in 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 purchasing an additional 246,979 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in Nevro by 2.4% in 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 purchasing an additional 102,150 shares during the last quarter. Institutional investors own 95.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVRO. Wells Fargo & Company decreased their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Morgan Stanley lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. StockNews.com initiated coverage on shares of Nevro in a research report on Thursday. They issued a “hold” rating for the company. JMP Securities reiterated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Finally, Canaccord Genuity Group raised their price target on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.43.

Nevro Stock Performance

NVRO stock opened at $5.79 on Thursday. Nevro Corp. has a twelve month low of $3.17 and a twelve month high of $15.98. 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 company has a market cap of $216.78 million, a P/E ratio of -3.06 and a beta of 0.94. The business’s fifty day moving average is $4.89 and its 200-day moving average is $4.94.

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

Nevro 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.