Brokerages Set CVRx, Inc. (NASDAQ:CVRX) Price Target at $13.67

CVRx, Inc. (NASDAQ:CVRX) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $13.67.

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price target on shares of CVRx in a research note on Wednesday. Canaccord Genuity Group raised their price target on shares of CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler cut their price objective 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 cut their price objective on shares of CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of CVRx in a report on Monday, August 26th.

Insider Buying and Selling

In other news, CEO Kevin Hykes purchased 30,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost 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 in the company, valued at approximately $250,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 38,500 shares of company stock valued at $322,545. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVRX. Johnson & Johnson boosted its holdings in CVRx by 17.4% in the 1st quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock valued at $74,723,000 after purchasing an additional 607,855 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in CVRx by 70.7% in the 1st 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 period. Marshall Wace LLP bought a new stake in shares of CVRx during the 2nd quarter worth $495,000. International Assets Investment Management LLC bought a new stake in shares of CVRx during the 3rd quarter worth $338,000. Finally, Vanguard Group Inc. lifted its holdings in shares of CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after acquiring an additional 31,720 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

CVRx Trading Down 0.4 %

Shares of CVRX stock opened at $10.07 on Wednesday. The company has a 50 day moving average of $8.73 and a 200-day moving average of $9.83. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The firm has a market cap of $217.47 million, a P/E ratio of -4.17 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The company had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $11.84 million. During the same quarter in the previous year, the business earned ($0.56) EPS. Sell-side analysts anticipate that CVRx will post -2.56 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.