CVRx, Inc. (NASDAQ:CVRX) Forecasted to Post FY2024 Earnings of ($2.54) Per Share

CVRx, Inc. (NASDAQ:CVRX) – Cantor Fitzgerald issued their FY2024 EPS estimates for CVRx in a note issued to investors on Tuesday, September 10th. Cantor Fitzgerald analyst R. Osborn anticipates that the company will post earnings of ($2.54) per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $14.00 price objective on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.56) per share.

CVRX has been the topic of several other reports. Piper Sandler cut their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Craig Hallum reduced their price objective on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Lake Street Capital reiterated a “buy” rating and issued a $12.00 target price on shares of CVRx in a research report on Monday, August 26th. Finally, Canaccord Genuity Group increased their price target on shares of CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, CVRx presently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

CVRx Stock Up 3.2 %

NASDAQ:CVRX opened at $7.85 on Thursday. The company’s 50 day moving average is $8.96 and its two-hundred day moving average is $12.04. The company has a market cap of $171.05 million, a PE ratio of -3.18 and a beta of 1.27. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. 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 (NASDAQ:CVRX) last announced its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). The business had revenue of $11.81 million for the quarter, compared to analyst estimates of $11.84 million. CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. During the same period in the prior year, the company earned ($0.56) earnings per share.

Insider Transactions at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of the firm’s stock in a transaction on 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 acquisition, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $250,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 38,500 shares of company stock worth $322,545 over the last quarter. 18.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Johnson & Johnson increased its stake in shares of CVRx by 17.4% in the 1st 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 in the last quarter. Silvercrest Asset Management Group LLC grew its holdings 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 shares of CVRx in the second quarter valued at approximately $495,000. Vanguard Group Inc. raised its stake in shares of CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after buying an additional 31,720 shares during the period. Finally, FourWorld Capital Management LLC purchased a new position in shares of CVRx during the 1st quarter valued at approximately $374,000. Institutional investors and hedge funds 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.