CVRx (CVRX) Set to Announce Earnings on Tuesday

CVRx (NASDAQ:CVRX) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect CVRx to post earnings of ($0.45) per share for the quarter. CVRx has set its Q3 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.84 million. During the same period in the prior year, the company posted ($0.56) EPS. On average, analysts expect CVRx to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

CVRx Stock Up 8.1 %

CVRx stock opened at $10.26 on Tuesday. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. The stock’s fifty day simple moving average is $8.61 and its 200-day simple moving average is $9.88. 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 capitalization of $221.57 million, a P/E ratio of -4.15 and a beta of 1.26.

Insider Activity at CVRx

In related news, CEO Kevin Hykes acquired 30,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $250,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 38,500 shares of company stock valued at $322,545 over the last quarter. 18.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Cantor Fitzgerald started coverage on CVRx in a research report on Tuesday, September 10th. They set an “overweight” rating and a $14.00 price objective on the stock. Piper Sandler dropped their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Lake Street Capital reissued a “buy” rating and issued a $12.00 target price on shares of CVRx in a report on Monday, August 26th. Finally, Craig Hallum dropped 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CVRx has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

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.