CVRx (NASDAQ:CVRX) Posts Earnings Results

CVRx (NASDAQ:CVRX) issued its earnings results on Tuesday. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12), Zacks reports. The firm had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 88.85%. During the same quarter in the prior year, the firm posted ($0.43) EPS. CVRx updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CVRx Trading Up 2.2 %

Shares of CVRX stock traded up $0.29 during trading hours on Friday, reaching $13.41. The company had a trading volume of 130,945 shares, compared to its average volume of 271,907. CVRx has a 1-year low of $6.40 and a 1-year high of $33.13. The company has a 50 day moving average of $9.06 and a 200 day moving average of $9.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85. The firm has a market cap of $292.20 million, a price-to-earnings ratio of -4.88 and a beta of 1.26.

Wall Street Analyst Weigh In

Several analysts have weighed in on CVRX shares. Lake Street Capital upped their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday. Craig Hallum decreased 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. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their price target on shares of CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Activity at CVRx

In other news, CEO Kevin Hykes bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $8.36 per share, with a total value of $250,800.00. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $250,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 38,500 shares of company stock worth $322,545 in the last ninety days. Company insiders own 18.90% of the company’s stock.

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.