Fmr LLC Has $30,000 Position in CVRx, Inc. (NASDAQ:CVRX)

Fmr LLC trimmed its holdings in CVRx, Inc. (NASDAQ:CVRX) by 34.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,374 shares of the company’s stock after selling 1,798 shares during the quarter. Fmr LLC’s holdings in CVRx were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of CVRx in the 3rd quarter worth $108,000. Rhumbline Advisers raised its holdings in CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after buying an additional 3,863 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of CVRx in the second quarter valued at $218,000. Bank of New York Mellon Corp grew its holdings in shares of CVRx by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after buying an additional 8,741 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of CVRx during the third quarter worth about $338,000. Institutional investors own 75.27% of the company’s stock.

CVRx Stock Performance

NASDAQ CVRX opened at $12.90 on Thursday. The business has a 50-day moving average price of $13.35 and a 200-day moving average price of $10.69. The firm has a market cap of $313.01 million, a price-to-earnings ratio of -4.78 and a beta of 1.20. CVRx, Inc. has a twelve month low of $6.40 and a twelve month high of $33.13. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76.

CVRx (NASDAQ:CVRX) last posted its earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.28 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. As a group, equities research analysts predict that CVRx, Inc. will post -2.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $16.00 price target (up from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Lake Street Capital lifted 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. Craig Hallum upped their target price on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of CVRx in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their target price on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

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.