CVRx (NASDAQ:CVRX) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of CVRx (NASDAQ:CVRX) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $14.00 price target on the stock.

A number of other brokerages also recently issued reports on CVRX. Piper Sandler reduced their price target 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 restated a “buy” rating and set a $12.00 target price on shares of CVRx in a report on Monday, August 26th. Craig Hallum cut their price target on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Canaccord Genuity Group upped their price objective 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 issued a buy rating to the stock. Based on data from MarketBeat, CVRx presently has an average rating of “Moderate Buy” and a consensus price target of $13.67.

CVRx Price Performance

Shares of CVRx stock opened at $10.07 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85. CVRx has a one year low of $6.40 and a one year high of $33.13. The business’s 50 day simple moving average is $8.77 and its two-hundred day simple moving average is $9.77. The stock has a market capitalization of $217.47 million, a P/E ratio of -4.08 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). The firm had revenue of $11.81 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned ($0.56) earnings per share. Analysts forecast that CVRx will post -2.56 EPS for the current year.

Insider Activity

In other CVRx news, CEO Kevin Hykes purchased 30,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at approximately $250,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 38,500 shares of company stock worth $322,545. Corporate insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVRX. Rhumbline Advisers grew its stake in shares of CVRx by 28.8% in the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after acquiring an additional 3,863 shares during the last quarter. Bank of New York Mellon Corp grew its position in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after purchasing an additional 8,741 shares during the last quarter. SG Americas Securities LLC bought a new stake in CVRx during the 3rd quarter valued at about $108,000. Dimensional Fund Advisors LP purchased a new position in CVRx in the second quarter worth about $218,000. Finally, Squarepoint Ops LLC lifted its stake in shares of CVRx by 26.3% in the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock worth $1,103,000 after buying an additional 19,165 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.