Cantor Fitzgerald Increases Earnings Estimates for CVRx

CVRx, Inc. (NASDAQ:CVRX) – Equities researchers at Cantor Fitzgerald boosted their FY2024 earnings estimates for shares of CVRx in a report issued on Tuesday, December 3rd. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will earn ($2.57) per share for the year, up from their prior forecast of ($2.59). Cantor Fitzgerald has a “Overweight” rating and a $14.00 price objective on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.62) per share.

A number of other research firms also recently issued reports on CVRX. Lake Street Capital boosted their target price on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Finally, Craig Hallum boosted their price objective on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.83.

CVRx Stock Performance

Shares of CVRX opened at $13.40 on Thursday. The stock has a market cap of $325.08 million, a P/E ratio of -4.96 and a beta of 1.20. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $11.94 and a two-hundred day moving average of $10.15.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The company had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. During the same quarter last year, the business earned ($0.43) EPS.

Hedge Funds Weigh In On CVRx

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of CVRx in the third quarter worth about $108,000. XTX Topco Ltd acquired a new stake in shares of CVRx during the third quarter worth approximately $150,000. Rhumbline Advisers boosted its holdings in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of CVRx during the second quarter worth approximately $218,000. Finally, Jane Street Group LLC boosted its holdings in shares of CVRx by 36.1% during the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after purchasing an additional 5,053 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

About CVRx

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.