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

Shares of CVRx, Inc. (NASDAQ:CVRX) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $13.67.

CVRX has been the subject of a number of research reports. Craig Hallum dropped 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. Canaccord Genuity Group boosted their price target on shares of CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler dropped their price objective on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Cantor Fitzgerald started coverage on CVRx in a research note on Tuesday, September 10th. They set an “overweight” rating and a $14.00 target price for the company. Finally, Lake Street Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of CVRx in a research note on Monday, August 26th.

CVRx Stock Up 2.3 %

Shares of CVRX opened at $8.63 on Friday. The company’s 50-day moving average price is $8.76 and its 200 day moving average price is $11.24. CVRx has a 12-month low of $6.40 and a 12-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. The firm has a market cap of $186.37 million, a P/E ratio of -3.49 and a beta of 1.27.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The company had revenue of $11.81 million during the quarter, compared to analyst estimates of $11.84 million. During the same quarter in the prior year, the company posted ($0.56) earnings per share. On average, sell-side analysts forecast that CVRx will post -2.56 earnings per share for the current year.

Insider Transactions at CVRx

In other CVRx news, CEO Kevin Hykes purchased 30,000 shares of CVRx stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at $250,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have acquired 38,500 shares of company stock worth $322,545. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Silvercrest Asset Management Group LLC raised its holdings in CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after purchasing an additional 105,198 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of CVRx during the 4th quarter worth approximately $426,000. Parkman Healthcare Partners LLC lifted its holdings in shares of CVRx by 8.0% in the 4th quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after buying an additional 17,880 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 31,720 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in CVRx by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after acquiring an additional 8,741 shares during the period. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

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.