CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CVRx, Inc. (NASDAQ:CVRX) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group raised their target price on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of CVRx in a research report on Wednesday, October 23rd. Lake Street Capital boosted their target price on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. William Blair upgraded shares of CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Finally, Craig Hallum upped their price objective on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th.

CVRx Trading Down 0.2 %

Shares of CVRX stock opened at $16.81 on Friday. The stock has a market cap of $407.81 million, a P/E ratio of -6.23 and a beta of 1.26. CVRx has a 1 year low of $6.40 and a 1 year high of $26.55. 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 stock has a 50 day simple moving average of $14.67 and a 200 day simple moving average of $11.55.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The firm had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same quarter in the previous year, the company earned ($0.43) earnings per share. On average, research analysts predict that CVRx will post -2.61 earnings per share for the current fiscal year.

Institutional Trading of CVRx

Institutional investors have recently modified their holdings of the business. Parkman Healthcare Partners LLC lifted its holdings in CVRx by 52.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after buying an additional 235,277 shares during the period. PDT Partners LLC acquired a new position in shares of CVRx in the third quarter worth approximately $543,000. Marshall Wace LLP bought a new stake in CVRx in the second quarter valued at approximately $495,000. International Assets Investment Management LLC acquired a new stake in CVRx during the 3rd quarter valued at approximately $338,000. Finally, State Street Corp raised its holdings in CVRx by 11.4% during the 3rd quarter. State Street Corp now owns 264,733 shares of the company’s stock worth $2,332,000 after purchasing an additional 27,071 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

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.