CVRx, Inc. (NASDAQ:CVRX) Receives Average Recommendation of “Moderate Buy” from Analysts

by · The Markets Daily

CVRx, Inc. (NASDAQ:CVRX – Get Free Report) has earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $13.67.

Several research analysts have commented on CVRX shares. Canaccord Genuity Group raised their price objective on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Piper Sandler dropped their target price on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. Lake Street Capital restated a “buy” rating and set a $12.00 target price on shares of CVRx in a report on Monday, August 26th. Finally, Craig Hallum decreased their price objective on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, July 11th.

Read Our Latest Research Report on CVRx

CVRx Stock Performance

Shares of NASDAQ:CVRX opened at $10.74 on Wednesday. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13. The company has a market capitalization of $231.94 million, a price-to-earnings ratio of -4.35 and a beta of 1.26. The firm’s 50-day moving average is $8.85 and its 200 day moving average is $9.55.

CVRx (NASDAQ:CVRX – Get Free Report) last released its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). The business had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $11.84 million. CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. During the same quarter in the previous year, the business earned ($0.56) EPS. Research analysts predict that CVRx will post -2.56 EPS for the current year.

Insider Activity

In related news, CEO Kevin Hykes purchased 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $8.36 per share, with a total value of $250,800.00. Following the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at $250,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 38,500 shares of company stock worth $322,545 in the last ninety days. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On CVRx

Several large investors have recently made changes to their positions in CVRX. Johnson & Johnson increased its stake in CVRx by 17.4% during the 1st quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after buying an additional 607,855 shares during the period. Silvercrest Asset Management Group LLC increased its stake in CVRx by 70.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after purchasing an additional 105,198 shares during the last quarter. Marshall Wace LLP acquired a new stake in CVRx during the second quarter worth approximately $495,000. International Assets Investment Management LLC purchased a new position in shares of CVRx during the third quarter worth about $338,000. Finally, Vanguard Group Inc. increased its position in shares of CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after purchasing an additional 31,720 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

About CVRx

(Get Free Report

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.

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