FY2024 EPS Estimates for CVRx Lowered by Cantor Fitzgerald

CVRx, Inc. (NASDAQ:CVRX) – Research analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for CVRx in a research note issued to investors on Wednesday, October 30th. Cantor Fitzgerald analyst R. Osborn now expects that the company will post earnings of ($2.59) per share for the year, down from their prior estimate of ($2.54). Cantor Fitzgerald currently has a “Overweight” rating and a $14.00 target price on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.56) per share.

CVRx (NASDAQ:CVRX) last released its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). CVRx had a negative return on equity of 88.85% and a negative net margin of 123.75%. The firm had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. During the same period in the prior year, the firm earned ($0.43) EPS.

CVRX has been the topic of several other reports. Craig Hallum dropped their price target on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Lake Street Capital boosted their target price on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $16.00 price target (up from $13.00) on shares of CVRx in a report on Wednesday. Finally, Canaccord Genuity Group raised their price target on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CVRx currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

CVRx Trading Up 2.1 %

CVRx stock opened at $13.40 on Friday. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08. The firm has a market capitalization of $291.99 million, a PE ratio of -4.96 and a beta of 1.26. The business’s 50-day simple moving average is $9.15 and its 200-day simple moving average is $9.58.

Insider Buying and Selling

In other CVRx news, CEO Kevin Hykes purchased 30,000 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $8.36 per share, with a total value of $250,800.00. Following the acquisition, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 38,500 shares of company stock valued at $322,545 over the last ninety days. 18.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Johnson & Johnson raised its holdings in shares of CVRx by 17.4% in the 1st quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after buying an additional 607,855 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in 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 acquiring an additional 105,198 shares during the period. Marshall Wace LLP acquired a new position in CVRx during the second quarter worth $495,000. International Assets Investment Management LLC bought a new position in shares of CVRx during the third quarter valued at $338,000. Finally, Vanguard Group Inc. boosted its stake in shares of CVRx by 5.6% in the 1st 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 in the last quarter. Institutional investors own 75.27% of the company’s stock.

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.