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

Shares of CVRx, Inc. (NASDAQ:CVRX) have received an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $16.67.

CVRX has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and set a $16.00 target price (up previously from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Craig Hallum upped their price target on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Lake Street Capital upped their target price on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th.

CVRx Stock Performance

NASDAQ CVRX opened at $14.17 on Monday. CVRx has a twelve month low of $6.40 and a twelve month high of $29.23. The business’s fifty day moving average is $14.00 and its 200 day moving average is $10.95. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. The company has a market cap of $343.82 million, a price-to-earnings ratio of -5.25 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. The firm had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. During the same period in the prior year, the company earned ($0.43) EPS. As a group, sell-side analysts expect that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Trading of CVRx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkman Healthcare Partners LLC boosted its holdings in CVRx by 52.6% in the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after acquiring an additional 235,277 shares in the last quarter. PDT Partners LLC acquired a new stake in CVRx in the 3rd quarter valued at $543,000. Marshall Wace LLP bought a new stake in CVRx during the 2nd quarter valued at $495,000. International Assets Investment Management LLC acquired a new position in CVRx during the third quarter worth $338,000. Finally, State Street Corp grew its holdings in shares of CVRx by 11.4% during the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after buying an additional 27,071 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

CVRx Company Profile

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.