CVRx, Inc. (NASDAQ:CVRX) Receives $15.83 Consensus PT from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.83.

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

Institutional Trading of CVRx

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of CVRx in the 3rd quarter worth approximately $108,000. XTX Topco Ltd bought a new position in CVRx during the third quarter worth $150,000. Jane Street Group LLC boosted its holdings in CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after purchasing an additional 5,053 shares during the period. Barclays PLC increased its stake in CVRx by 312.5% during the third quarter. Barclays PLC now owns 19,067 shares of the company’s stock valued at $169,000 after purchasing an additional 14,445 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of CVRx during the third quarter worth $178,000. 75.27% of the stock is owned by institutional investors.

CVRx Stock Performance

NASDAQ:CVRX opened at $13.42 on Friday. The firm’s fifty day simple moving average is $10.51 and its 200 day simple moving average is $9.61. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. The firm has a market capitalization of $325.62 million, a price-to-earnings ratio of -4.97 and a beta of 1.16.

CVRx (NASDAQ:CVRX) last issued 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). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. The company had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. During the same quarter in the prior year, the firm earned ($0.43) EPS. As a group, equities research analysts expect that CVRx will post -2.62 earnings per share for the current fiscal year.

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.