CVRx, Inc. (NASDAQ:CVRX) Receives $16.67 Average Price Target from Analysts

CVRx, Inc. (NASDAQ:CVRX) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research 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 issued ratings on the stock in the last year is $16.67.

Several research firms recently weighed in on CVRX. Canaccord Genuity Group lifted their target price on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Craig Hallum lifted their price objective on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 target price on shares of CVRx in a 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On CVRx

Several institutional investors have recently bought and sold shares of the stock. PDT Partners LLC bought a new position in shares of CVRx during the 3rd quarter valued at approximately $543,000. International Assets Investment Management LLC purchased a new stake in CVRx during the third quarter valued at $338,000. Vanguard Group Inc. lifted its position in CVRx by 5.6% during 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. Bank of New York Mellon Corp lifted its position in CVRx by 30.7% during the second 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. Finally, Dimensional Fund Advisors LP purchased a new position in shares of CVRx in the 2nd quarter worth $218,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Price Performance

NASDAQ CVRX opened at $12.83 on Thursday. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $311.31 million, a P/E ratio of -4.75 and a beta of 1.20. The company has a 50-day moving average price of $12.60 and a 200-day moving average price of $10.42. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13.

CVRx (NASDAQ:CVRX) last announced its earnings results 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 net margin of 123.75% and a negative return on equity of 89.06%. The business had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $13.28 million. During the same period in the prior year, the company posted ($0.43) earnings per share. Equities research analysts anticipate that CVRx will post -2.62 earnings per share for the current year.

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.