CVRx (CVRX) Set to Announce Earnings on Tuesday

CVRx (NASDAQ:CVRX) is scheduled to post its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect CVRx to post earnings of ($0.45) per share for the quarter. CVRx has set its Q3 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

CVRx (NASDAQ:CVRX) last released its quarterly 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). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The firm had revenue of $11.81 million during the quarter, compared to analyst estimates of $11.84 million. During the same quarter in the prior year, the company earned ($0.56) EPS. On average, analysts expect CVRx to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

CVRx Price Performance

CVRX stock opened at $10.07 on Friday. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08. The stock’s 50 day moving average price is $8.77 and its 200 day moving average price is $9.71. The firm has a market cap of $217.47 million, a P/E ratio of -4.08 and a beta of 1.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Lake Street Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of CVRx in a research note on Monday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 target price on shares of CVRx in a research note on Wednesday. Piper Sandler reduced their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Craig Hallum reduced their target price on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group increased their price target on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

Insider Buying and Selling

In other news, CEO Kevin Hykes bought 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $8.36 per share, with a total value of $250,800.00. Following the transaction, the chief executive officer now owns 30,000 shares of the company’s stock, valued at $250,800. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have bought 38,500 shares of company stock valued at $322,545. 18.90% of the stock is currently owned by company insiders.

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.