Nevro Corp. (NYSE:NVRO) Shares Sold by Western Standard LLC

Western Standard LLC lessened its holdings in Nevro Corp. (NYSE:NVRO) by 34.1% during the 4th quarter, Holdings Channel reports. The firm owned 645,141 shares of the medical equipment provider’s stock after selling 333,840 shares during the quarter. Nevro comprises 1.6% of Western Standard LLC’s investment portfolio, making the stock its 21st biggest holding. Western Standard LLC’s holdings in Nevro were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Amundi acquired a new position in shares of Nevro during the 4th quarter worth approximately $30,000. Oxford Asset Management LLP purchased a new position in Nevro during the fourth quarter worth $39,000. Corton Capital Inc. acquired a new position in shares of Nevro in the fourth quarter worth $43,000. Headlands Technologies LLC purchased a new stake in shares of Nevro in the fourth quarter valued at $45,000. Finally, Ieq Capital LLC acquired a new stake in shares of Nevro during the fourth quarter valued at $46,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVRO has been the subject of several analyst reports. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and cut their target price for the company from $6.00 to $5.85 in a research note on Friday, February 7th. StockNews.com initiated coverage on shares of Nevro in a research report on Saturday. They issued a “hold” rating for the company. Canaccord Genuity Group raised their target price on shares of Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $4.50 to $5.85 in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.36.

Nevro Trading Up 0.1%

Shares of NVRO stock opened at $5.85 on Tuesday. The firm’s 50-day simple moving average is $5.84 and its 200-day simple moving average is $5.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. Nevro Corp. has a 1-year low of $3.17 and a 1-year high of $11.45. The firm has a market cap of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.15. The firm had revenue of $105.55 million during the quarter, compared to analyst estimates of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. As a group, equities 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.