CVRx (NASDAQ:CVRX) Price Target Raised to $15.00 at Lake Street Capital

CVRx (NASDAQ:CVRX) had its price target hoisted by Lake Street Capital from $12.00 to $15.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of CVRx in a report on Wednesday, October 23rd. Craig Hallum lowered their target price on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Piper Sandler restated an “overweight” rating and set a $16.00 target price (up from $13.00) on shares of CVRx in a report on Wednesday. Finally, Canaccord Genuity Group boosted their target price on CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.00.

CVRx Trading Up 31.0 %

CVRX stock opened at $14.07 on Wednesday. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The stock has a market cap of $306.53 million, a price-to-earnings ratio of -5.21 and a beta of 1.26. The business’s 50-day moving average is $8.96 and its 200 day moving average is $9.58.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The firm 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 77.62% and a negative net margin of 122.52%. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. On average, sell-side analysts anticipate that CVRx will post -2.56 EPS for the current fiscal year.

Insider Activity at CVRx

In other CVRx news, CEO Kevin Hykes acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the acquisition, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $250,800. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have acquired 38,500 shares of company stock worth $322,545. Insiders own 18.90% of the company’s stock.

Institutional Trading of CVRx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVRX. Johnson & Johnson raised its position in CVRx by 17.4% in the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock valued at $74,723,000 after purchasing an additional 607,855 shares during the period. Silvercrest Asset Management Group LLC raised 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 valued at $4,625,000 after purchasing an additional 105,198 shares during the period. Marshall Wace LLP purchased a new stake in CVRx in the second quarter valued at approximately $495,000. International Assets Investment Management LLC purchased a new stake in CVRx in the third quarter valued at approximately $338,000. Finally, Vanguard Group Inc. raised its position in CVRx by 5.6% in the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after purchasing an additional 31,720 shares during the period. 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.