Renaissance Technologies LLC Has $8.26 Million Holdings in Nevro Corp (NYSE:NVRO)

Renaissance Technologies LLC lessened its holdings in Nevro Corp (NYSE:NVRO) by 36.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,400 shares of the medical equipment provider’s stock after selling 73,500 shares during the period. Renaissance Technologies LLC owned about 0.42% of Nevro worth $8,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NVRO. Russell Investments Group Ltd. acquired a new stake in shares of Nevro in the 2nd quarter worth about $5,933,000. First Trust Advisors LP bought a new stake in Nevro in the 2nd quarter worth about $2,449,000. Allianz Asset Management GmbH grew its position in Nevro by 122.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 60,901 shares of the medical equipment provider’s stock worth $3,948,000 after purchasing an additional 33,477 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Nevro in the 1st quarter worth about $2,170,000. Finally, Edmond DE Rothschild Holding S.A. grew its position in Nevro by 31.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 138,290 shares of the medical equipment provider’s stock worth $8,645,000 after purchasing an additional 32,700 shares in the last quarter.

A number of brokerages have issued reports on NVRO. JMP Securities upped their price objective on shares of Nevro from $70.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Northland Securities set a $65.00 price objective on shares of Nevro and gave the stock a “hold” rating in a research report on Friday, August 9th. Bank of America upped their price objective on shares of Nevro from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Leerink Swann set a $98.00 price objective on shares of Nevro and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Canaccord Genuity upped their price objective on shares of Nevro from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $65.83.



Shares of Nevro stock traded down $0.45 on Tuesday, reaching $88.12. 8,143 shares of the company traded hands, compared to its average volume of 320,465. Nevro Corp has a 52 week low of $34.75 and a 52 week high of $91.60. The company has a 50 day moving average of $82.20 and a 200 day moving average of $66.29. The firm has a market capitalization of $2.78 billion, a PE ratio of -53.69 and a beta of 0.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 6.05 and a quick ratio of 4.66.

Nevro (NYSE:NVRO) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.02). Nevro had a negative net margin of 24.51% and a negative return on equity of 41.07%. The company had revenue of $93.60 million for the quarter, compared to the consensus estimate of $88.40 million. During the same period in the prior year, the company earned ($0.35) earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, analysts anticipate that Nevro Corp will post -3.87 earnings per share for the current year.

Nevro Company Profile

Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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Institutional Ownership by Quarter for Nevro (NYSE:NVRO)

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