Short Interest in Nevro Corp. (NYSE:NVRO) Decreases By 32.1%

Nevro Corp. (NYSE:NVRO) saw a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,990,000 shares, a drop of 32.1% from the January 31st total of 2,930,000 shares. Based on an average trading volume of 879,100 shares, the days-to-cover ratio is presently 2.3 days.

Nevro Stock Up 0.3 %

NYSE NVRO traded up $0.02 during trading on Tuesday, reaching $5.74. 628,561 shares of the company’s stock were exchanged, compared to its average volume of 658,219. The stock has a market cap of $214.90 million, a P/E ratio of -3.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The company has a 50 day moving average price of $4.86 and a two-hundred day moving average price of $4.93. Nevro has a 1 year low of $3.17 and a 1 year high of $15.98.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. On average, equities research analysts anticipate that Nevro will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on NVRO. Royal Bank of Canada reissued a “sector perform” rating and set a $7.00 target price on shares of Nevro in a research note on Tuesday, November 12th. Citigroup lowered their price target on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Robert W. Baird raised their price target on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and raised their price target for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Finally, Morgan Stanley lowered Nevro from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.43.

Institutional Trading of Nevro

A number of institutional investors have recently bought and sold shares of NVRO. Western Standard LLC purchased a new stake in Nevro during the 3rd quarter worth about $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock worth $5,590,000 after purchasing an additional 566,462 shares in the last quarter. Engaged Capital LLC increased its position in shares of Nevro by 29.5% during the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after purchasing an additional 557,000 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Nevro during the fourth quarter worth about $1,976,000. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Nevro by 20.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after purchasing an additional 306,943 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.