Bridgeway Capital Management LLC Sells 35,500 Shares of Nevro Corp. (NYSE:NVRO)

Bridgeway Capital Management LLC decreased its stake in shares of Nevro Corp. (NYSE:NVRO) by 14.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 211,500 shares of the medical equipment provider’s stock after selling 35,500 shares during the quarter. Bridgeway Capital Management LLC owned about 0.56% of Nevro worth $787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cantor Fitzgerald L. P. bought a new position in Nevro during the fourth quarter worth about $1,976,000. Prudential Financial Inc. boosted its stake in shares of Nevro by 243.4% during the 4th quarter. Prudential Financial Inc. now owns 195,680 shares of the medical equipment provider’s stock worth $728,000 after acquiring an additional 138,700 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Nevro during the 4th quarter worth approximately $435,000. MYDA Advisors LLC acquired a new position in shares of Nevro during the 4th quarter worth approximately $432,000. Finally, Raymond James Financial Inc. bought a new stake in Nevro in the 4th quarter valued at $287,000. Institutional investors own 95.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. StockNews.com started coverage on shares of Nevro in a report on Friday. They set a “hold” rating for the company. Piper Sandler upgraded shares of Nevro from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $6.00 to $5.85 in a research note on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $4.50 to $5.85 in a research report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.36.

Nevro Stock Performance

NYSE NVRO opened at $5.85 on Monday. The firm has a 50-day moving average price of $5.83 and a two-hundred day moving average price of $5.10. Nevro Corp. has a 12-month low of $3.17 and a 12-month high of $11.65. The company has a market capitalization of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. 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 released its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.15. The company had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Analysts anticipate that Nevro Corp. will post -2.44 earnings per share for the current 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.