CVRx, Inc. (NASDAQ:CVRX) Receives Average Rating of “Moderate Buy” from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $15.83.

Several research analysts have weighed in on CVRX shares. Lake Street Capital raised their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective (up from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price target on shares of CVRx in a report on Wednesday, October 23rd. Finally, Craig Hallum lifted their price objective on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

CVRx Price Performance

CVRX opened at $14.68 on Friday. CVRx has a twelve month low of $6.40 and a twelve 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 firm has a market cap of $356.02 million, a price-to-earnings ratio of -5.44 and a beta of 1.16. The company has a fifty day simple moving average of $10.76 and a 200 day simple moving average of $9.67.

CVRx (NASDAQ:CVRX) last announced its earnings results 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). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. The business had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $13.28 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. Equities research analysts expect that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Investors Weigh In On CVRx

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in CVRx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after buying an additional 31,720 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in CVRx by 70.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after purchasing an additional 105,198 shares during the period. FourWorld Capital Management LLC acquired a new stake in CVRx in the first quarter worth approximately $374,000. Bank of New York Mellon Corp increased its position in shares of CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after purchasing an additional 8,741 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after buying an additional 3,863 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors.

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.