CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CVRx, Inc. (NASDAQ:CVRX) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $16.67.

Several research analysts have weighed in on the stock. Craig Hallum upped their price objective on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group upped their price target on shares of CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Lake Street Capital upped their target price on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $16.00 price target (up from $13.00) on shares of CVRx in a report on Wednesday, October 30th.

CVRx Price Performance

CVRX opened at $11.96 on Thursday. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. 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 firm has a market capitalization of $290.20 million, a P/E ratio of -4.43 and a beta of 1.20. The stock has a fifty day moving average of $12.88 and a 200-day moving average of $10.55.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The business had revenue of $13.37 million for 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 quarter in the previous year, the business posted ($0.43) earnings per share. Equities analysts forecast that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Trading of CVRx

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in CVRx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after purchasing an additional 31,720 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CVRx by 30.7% in the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after buying an additional 8,741 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after buying an additional 3,863 shares during the period. Dimensional Fund Advisors LP acquired a new position in CVRx in the 2nd quarter valued at $218,000. Finally, Marshall Wace LLP bought a new position in CVRx in the 2nd quarter worth $495,000. 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.