Virtu Financial LLC Invests $63,000 in Nevro Corp. (NYSE:NVRO)

Virtu Financial LLC acquired a new stake in Nevro Corp. (NYSE:NVRO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,231 shares of the medical equipment provider’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its position in Nevro by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after purchasing an additional 2,836 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 6,565 shares during the period. Blair William & Co. IL lifted its stake in shares of Nevro by 13.9% during the 2nd quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 7,250 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Nevro by 345.8% in the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Nevro by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock valued at $1,077,000 after purchasing an additional 8,673 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

Nevro Stock Performance

NYSE NVRO opened at $3.79 on Friday. The firm has a market capitalization of $142.02 million, a P/E ratio of -2.01 and a beta of 0.84. The stock has a 50-day simple moving average of $4.66 and a two-hundred day simple moving average of $6.31. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro Corp. has a fifty-two week low of $3.52 and a fifty-two week high of $22.52.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. During the same period last year, the business earned ($0.65) earnings per share. Nevro’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts forecast that Nevro Corp. will post -2.43 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Morgan Stanley lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Wells Fargo & Company reduced their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, Robert W. Baird raised their price target on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.97.

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.