Semanteon Capital Management LP Purchases New Position in Nevro Corp. (NYSE:NVRO)

Semanteon Capital Management LP purchased a new position in shares of Nevro Corp. (NYSE:NVRO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 52,146 shares of the medical equipment provider’s stock, valued at approximately $1,122,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in shares of Nevro by 380.1% during the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock valued at $9,278,000 after buying an additional 341,343 shares during the period. Walleye Capital LLC grew its holdings in Nevro by 301.4% during the 3rd quarter. Walleye Capital LLC now owns 118,764 shares of the medical equipment provider’s stock valued at $2,283,000 after purchasing an additional 89,179 shares in the last quarter. Armistice Capital LLC grew its holdings in Nevro by 46.7% during the 3rd quarter. Armistice Capital LLC now owns 3,456,000 shares of the medical equipment provider’s stock valued at $66,424,000 after purchasing an additional 1,100,000 shares in the last quarter. Palo Alto Investors LP grew its holdings in Nevro by 107.7% during the 3rd quarter. Palo Alto Investors LP now owns 386,832 shares of the medical equipment provider’s stock valued at $7,435,000 after purchasing an additional 200,573 shares in the last quarter. Finally, Nomura Holdings Inc. grew its holdings in Nevro by 224.6% during the 3rd quarter. Nomura Holdings Inc. now owns 46,250 shares of the medical equipment provider’s stock valued at $889,000 after purchasing an additional 32,000 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Nevro Stock Down 7.2 %

NVRO traded down $0.90 on Thursday, reaching $11.61. 346,380 shares of the company traded hands, compared to its average volume of 474,770. The stock’s 50 day moving average price is $14.05 and its 200-day moving average price is $16.61. Nevro Corp. has a 52-week low of $11.49 and a 52-week high of $34.86. The company has a market cap of $425.85 million, a price-to-earnings ratio of -4.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94.

Nevro (NYSE:NVRO) last posted its earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.35. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. The firm had revenue of $116.18 million during the quarter, compared to analysts’ expectations of $115.93 million. On average, sell-side analysts expect that Nevro Corp. will post -2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Oppenheimer lowered shares of Nevro from an “outperform” rating to a “market perform” rating in a report on Thursday, February 22nd. Robert W. Baird decreased their price objective on shares of Nevro from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Mizuho cut their price objective on shares of Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, Wells Fargo & Company dropped their target price on shares of Nevro from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nevro presently has an average rating of “Hold” and a consensus target price of $21.23.

About Nevro

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.