Norden Group LLC Takes $84,000 Position in Nevro Corp. (NYSE:NVRO)

Norden Group LLC acquired a new position in Nevro Corp. (NYSE:NVRO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 22,625 shares of the medical equipment provider’s stock, valued at approximately $84,000. Norden Group LLC owned approximately 0.06% of Nevro at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Ieq Capital LLC purchased a new stake in Nevro in the 4th quarter worth approximately $46,000. SG Americas Securities LLC raised its holdings in shares of Nevro by 34.6% during the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 4,406 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Nevro during the third quarter worth $63,000. M&T Bank Corp boosted its position in Nevro by 54.0% during the third quarter. M&T Bank Corp now owns 78,954 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 27,681 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Nevro by 2,310.0% in the third quarter. Public Employees Retirement System of Ohio now owns 72,300 shares of the medical equipment provider’s stock valued at $404,000 after purchasing an additional 69,300 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Stock Performance

NVRO opened at $5.79 on Thursday. The stock has a market cap of $216.78 million, a PE ratio of -3.06 and a beta of 0.94. Nevro Corp. has a 1 year low of $3.17 and a 1 year high of $15.98. The stock’s 50 day simple moving average is $4.89 and its 200-day simple moving average is $4.94. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) 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 analysts’ expectations of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Sell-side analysts forecast that Nevro Corp. will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVRO. Canaccord Genuity Group lifted their price target on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Citigroup reduced their target price on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. StockNews.com initiated coverage on shares of Nevro in a research note on Thursday. They set a “hold” rating on the stock. Truist Financial reduced their price objective on shares of Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and increased their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.43.

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.