CVRx (NASDAQ:CVRX) Earns Overweight Rating from Cantor Fitzgerald

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

Several other research analysts also recently commented on the company. Lake Street Capital restated a “buy” rating and issued a $12.00 target price on shares of CVRx in a research note on Monday, August 26th. Craig Hallum reduced their price objective on shares of CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Piper Sandler decreased their target price on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Canaccord Genuity Group raised their price target on shares of CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.67.

CVRx Stock Performance

NASDAQ CVRX opened at $10.07 on Wednesday. The firm has a market cap of $217.47 million, a P/E ratio of -4.08 and a beta of 1.26. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $8.77 and its 200-day moving average is $9.77. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13.

CVRx (NASDAQ:CVRX) last issued its earnings results 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). CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. The business had revenue of $11.81 million for the quarter, compared to the consensus estimate of $11.84 million. During the same period in the previous year, the firm earned ($0.56) EPS. Sell-side analysts predict that CVRx will post -2.56 earnings per share for the current year.

Insider Buying and Selling at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of the firm’s stock in a transaction dated 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 approximately $250,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 38,500 shares of company stock worth $322,545 over the last three months. 18.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Johnson & Johnson lifted its stake in CVRx by 17.4% during the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after purchasing an additional 607,855 shares during the last quarter. Vanguard Group Inc. boosted its stake in CVRx by 5.6% in the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after buying an additional 31,720 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in CVRx by 70.7% during 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 last quarter. FourWorld Capital Management LLC purchased a new position in shares of CVRx during the first quarter worth approximately $374,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after acquiring an additional 8,741 shares during 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.