Bank of New York Mellon Corp Increases Stake in CVRx, Inc. (NASDAQ:CVRX)

Bank of New York Mellon Corp raised its holdings in shares of CVRx, Inc. (NASDAQ:CVRX) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,377 shares of the company’s stock after purchasing an additional 1,296 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.13% of CVRx worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Parkman Healthcare Partners LLC raised its position in shares of CVRx by 52.6% in the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock valued at $6,016,000 after purchasing an additional 235,277 shares during the period. PDT Partners LLC bought a new stake in CVRx during the 3rd quarter valued at $543,000. 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 valued at $2,332,000 after acquiring an additional 27,071 shares during the period. Centiva Capital LP purchased a new stake in shares of CVRx during the third quarter worth $178,000. Finally, XTX Topco Ltd bought a new position in shares of CVRx in the third quarter worth $150,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Stock Performance

Shares of CVRX opened at $12.49 on Friday. CVRx, Inc. has a 12-month low of $6.40 and a 12-month high of $19.24. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. The company has a market cap of $325.19 million, a PE ratio of -4.64 and a beta of 1.34. The stock has a 50-day moving average price of $14.03 and a 200-day moving average price of $12.78.

CVRx (NASDAQ:CVRX) last announced its earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. As a group, equities analysts forecast that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler boosted their price objective on CVRx from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Canaccord Genuity Group upped their price target on CVRx from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. William Blair upgraded shares of CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Finally, Craig Hallum boosted their price objective on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.83.

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.