FY2024 EPS Estimates for CVRx Boosted by Cantor Fitzgerald

CVRx, Inc. (NASDAQ:CVRX) – Investment analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for CVRx in a research report issued to clients and investors on Tuesday, December 3rd. Cantor Fitzgerald analyst R. Osborn now expects that the company will post earnings per share of ($2.57) for the year, up from their prior estimate of ($2.59). Cantor Fitzgerald currently has a “Overweight” rating and a $14.00 price target on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.62) per share.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The business had revenue of $13.37 million for the quarter, compared to analysts’ expectations 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 prior year, the business earned ($0.43) EPS.

CVRX has been the topic of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Lake Street Capital lifted their target price on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Craig Hallum upped their target price on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.83.

CVRx Price Performance

NASDAQ CVRX opened at $13.48 on Thursday. The business’s fifty day moving average is $12.03 and its 200 day moving average is $10.17. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $33.13. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32. The company has a market capitalization of $327.08 million, a PE ratio of -4.96 and a beta of 1.20.

Hedge Funds Weigh In On CVRx

Several hedge funds have recently modified their holdings of CVRX. Parkman Healthcare Partners LLC lifted its stake in CVRx by 52.6% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after purchasing an additional 235,277 shares in the last quarter. PDT Partners LLC bought a new stake in shares of CVRx in the third quarter worth about $543,000. Marshall Wace LLP purchased a new stake in shares of CVRx in the second quarter worth about $495,000. International Assets Investment Management LLC bought a new position in CVRx during the third quarter valued at approximately $338,000. Finally, Vanguard Group Inc. grew its holdings in CVRx by 5.6% during 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. Hedge funds and other 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.