CVRx, Inc. (NASDAQ:CVRX) Receives $16.67 Consensus PT from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has received an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $16.67.

A number of research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of CVRx in a research report on Wednesday, October 23rd. Lake Street Capital lifted their price target on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Craig Hallum increased 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 raised their target price on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 9th. 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.

Institutional Investors Weigh In On CVRx

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC grew its holdings in CVRx by 312.5% during the third quarter. Barclays PLC now owns 19,067 shares of the company’s stock worth $169,000 after buying an additional 14,445 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CVRx by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock worth $2,600,000 after acquiring an additional 6,443 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of CVRx in the 3rd quarter worth $150,000. Jane Street Group LLC raised its holdings in shares of CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after purchasing an additional 5,053 shares during the last quarter. Finally, State Street Corp lifted its position in shares of CVRx by 11.4% during the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after purchasing an additional 27,071 shares in the last quarter. 75.27% of the stock is owned by institutional investors.

CVRx Stock Performance

NASDAQ CVRX opened at $14.17 on Monday. The firm has a 50-day moving average price of $13.96 and a two-hundred day moving average price of $10.90. CVRx has a 12-month low of $6.40 and a 12-month high of $29.23. The company has a market capitalization of $343.82 million, a P/E ratio of -5.25 and a beta of 1.26. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The company had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. During the same period in the prior year, the firm earned ($0.43) earnings per share. Analysts anticipate that CVRx will post -2.62 earnings per share for the current 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.