CVRx, Inc. (NASDAQ:CVRX) Given Consensus Rating of “Moderate Buy” by Analysts

CVRx, Inc. (NASDAQ:CVRX) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $16.67.

CVRX has been the subject of a number of research analyst reports. Lake Street Capital lifted 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 restated an “overweight” rating and issued a $16.00 target price (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd. Canaccord Genuity Group upped their price target on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Craig Hallum boosted their target price on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Institutional Trading of CVRx

Large investors have recently modified their holdings of the business. PDT Partners LLC bought a new stake in shares of CVRx in the 3rd quarter worth approximately $543,000. International Assets Investment Management LLC purchased a new position in shares of CVRx during the third quarter valued at about $338,000. State Street Corp lifted its holdings in CVRx by 11.4% in the third quarter. State Street Corp now owns 264,733 shares of the company’s stock worth $2,332,000 after buying an additional 27,071 shares during the period. Bank of New York Mellon Corp boosted its position in 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 acquiring an additional 8,741 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of CVRx in the 2nd quarter worth approximately $218,000. 75.27% of the stock is owned by institutional investors.

CVRx Price Performance

CVRx stock opened at $13.64 on Monday. The stock has a market cap of $330.96 million, a price-to-earnings ratio of -5.05 and a beta of 1.20. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $13.83 and a 200 day simple moving average of $10.84. CVRx has a 52 week low of $6.40 and a 52 week high of $30.63.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) EPS 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 period in the previous year, the firm posted ($0.43) EPS. On average, research analysts forecast that CVRx will post -2.62 earnings per share for the current fiscal year.

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.