CVRx, Inc. (NASDAQ:CVRX) Receives $13.67 Average Target Price from Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.67.

CVRX has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of CVRx in a report on Wednesday. Lake Street Capital reiterated a “buy” rating and set a $12.00 price target on shares of CVRx in a report on Monday, August 26th. Craig Hallum dropped their target price on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Piper Sandler dropped their target price on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Canaccord Genuity Group boosted their target price on shares of CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, July 30th.

CVRx Stock Performance

NASDAQ CVRX opened at $10.07 on Wednesday. The firm’s fifty day moving average price is $8.73 and its two-hundred day moving average price is $9.83. The stock has a market cap of $217.47 million, a PE ratio of -4.17 and a beta of 1.26. 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 0.53, a quick ratio of 8.85 and a current ratio of 10.08.

CVRx (NASDAQ:CVRX) last posted its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). The company had revenue of $11.81 million for the quarter, compared to the consensus estimate of $11.84 million. CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. During the same period in the previous year, the firm posted ($0.56) EPS. On average, equities analysts expect that CVRx will post -2.56 EPS for the current fiscal year.

Insider Transactions at CVRx

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $8.36 per share, with a total value of $250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at approximately $250,800. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired a total of 38,500 shares of company stock valued at $322,545 over the last three months. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On CVRx

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in CVRx in the 3rd quarter valued at about $108,000. Rhumbline Advisers increased its stake in CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after buying an additional 3,863 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in CVRx in the 2nd quarter valued at about $218,000. FourWorld Capital Management LLC purchased a new stake in CVRx in the 1st quarter valued at about $374,000. Finally, Bank of New York Mellon Corp increased its stake in CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after buying an additional 8,741 shares during the last quarter. 75.27% of the stock is 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.