CVRx, Inc. (NASDAQ:CVRX) Receives $13.67 Average Target Price from Analysts

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

A number of research firms have weighed in on CVRX. Canaccord Genuity Group upped their price target on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler reduced their target price 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. Craig Hallum lowered their price target on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Lake Street Capital restated a “buy” rating and set a $12.00 price objective on shares of CVRx in a research note on Monday, August 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd.

CVRx Price Performance

CVRX stock opened at $10.07 on Wednesday. The stock has a 50-day moving average price of $8.77 and a two-hundred day moving average price of $9.65. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13. The stock has a market cap of $217.47 million, a PE ratio of -4.08 and a beta of 1.26. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.65) earnings per share (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 return on equity of 77.62% and a negative net margin of 122.52%. During the same quarter in the previous year, the business posted ($0.56) earnings per share. Equities analysts forecast that CVRx will post -2.56 EPS for the current fiscal year.

Insider Buying and Selling at CVRx

In other news, CEO Kevin Hykes acquired 30,000 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $250,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 38,500 shares of company stock worth $322,545 over the last quarter. 18.90% of the stock is currently owned by insiders.

Institutional Trading of CVRx

A number of hedge funds have recently made changes to their positions in CVRX. Johnson & Johnson increased its holdings in shares of CVRx by 17.4% during the 1st quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after acquiring an additional 607,855 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 purchasing an additional 31,720 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of CVRx by 70.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after purchasing an additional 105,198 shares during the last quarter. FourWorld Capital Management LLC bought a new position in shares of CVRx in the first quarter valued at about $374,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after buying an additional 8,741 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

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.