CVRx (NASDAQ:CVRX) Stock Price Expected to Rise, Craig Hallum Analyst Says

CVRx (NASDAQ:CVRX) had its price objective raised by Craig Hallum from $20.00 to $22.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on CVRX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price target on shares of CVRx in a report on Wednesday, October 23rd. Canaccord Genuity Group increased their target price on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 9th. Lake Street Capital increased their target price on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $16.00 target price (up previously from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Finally, William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, CVRx currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

CVRx Stock Performance

NASDAQ CVRX opened at $17.62 on Friday. The stock has a market capitalization of $427.46 million, a price-to-earnings ratio of -6.53 and a beta of 1.26. CVRx has a twelve month low of $6.40 and a twelve month high of $29.23. 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 stock has a 50-day moving average of $14.12 and a 200 day moving average of $11.12.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The business had revenue of $13.37 million during the quarter, compared to analyst estimates 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 company posted ($0.43) EPS. Sell-side analysts anticipate that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Investors Weigh In On CVRx

A number of large investors have recently made changes to their positions in CVRX. Parkman Healthcare Partners LLC grew 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 in the last quarter. PDT Partners LLC purchased a new position in CVRx in the third quarter worth approximately $543,000. Marshall Wace LLP purchased a new position in CVRx in the second quarter worth approximately $495,000. International Assets Investment Management LLC purchased a new position in CVRx in the third quarter worth approximately $338,000. Finally, State Street Corp grew its position 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 acquiring an additional 27,071 shares during the period. 75.27% of the stock is currently owned by hedge funds and other 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.