CVRx, Inc. (NASDAQ:CVRX) Given Consensus Rating of “Moderate Buy” by Analysts

CVRx, Inc. (NASDAQ:CVRX) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $15.83.

A number of brokerages have commented on CVRX. Canaccord Genuity Group lifted their target price on CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Lake Street Capital upped their target price on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 target price on shares of CVRx in a research report 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. Finally, Craig Hallum boosted their price objective on CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

Institutional Investors Weigh In On CVRx

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after purchasing an additional 31,720 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after buying an additional 105,198 shares in the last quarter. FourWorld Capital Management LLC acquired a new position in CVRx during the first quarter valued at $374,000. Bank of New York Mellon Corp lifted its stake in CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after acquiring an additional 8,741 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after acquiring an additional 3,863 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Stock Performance

CVRX stock opened at $13.91 on Friday. The stock’s 50 day simple moving average is $10.29 and its 200 day simple moving average is $9.55. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The firm has a market cap of $337.51 million, a P/E ratio of -5.15 and a beta of 1.16. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. The business had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. During the same period last year, the company posted ($0.43) earnings per share. As a group, equities research analysts predict that CVRx will post -2.62 EPS for the current year.

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.