CVRx (NASDAQ:CVRX) Rating Lowered to “Hold” at Lake Street Capital

CVRx (NASDAQ:CVRX) was downgraded by investment analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. They presently have a $3.50 target price on the stock. Lake Street Capital’s price objective points to a potential downside of 41.08% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of CVRx from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Piper Sandler cut CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price on the stock. in a research report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of CVRx in a research note on Monday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $10.00 price target on shares of CVRx in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, CVRx presently has a consensus rating of “Hold” and a consensus target price of $6.90.

CVRx Stock Performance

NASDAQ:CVRX opened at $5.94 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 10.20 and a quick ratio of 8.89. The firm has a market cap of $157.65 million, a price-to-earnings ratio of -2.94 and a beta of 0.81. The firm’s fifty day moving average price is $5.26 and its 200 day moving average price is $6.52. CVRx has a 1-year low of $4.37 and a 1-year high of $11.30.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The firm had revenue of $15.71 million for the quarter, compared to analysts’ expectations of $15.55 million. CVRx had a negative return on equity of 120.76% and a negative net margin of 89.14%. On average, sell-side analysts expect that CVRx will post -1.89 EPS for the current year.

Institutional Investors Weigh In On CVRx

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in CVRx during the second quarter worth $199,000. GSA Capital Partners LLP purchased a new position in shares of CVRx in the second quarter valued at $259,000. Johnson & Johnson acquired a new position in shares of CVRx during the 2nd quarter worth $20,687,786,000. Quantinno Capital Management LP boosted its position in shares of CVRx by 52.4% in the 1st quarter. Quantinno Capital Management LP now owns 115,818 shares of the company’s stock worth $1,096,000 after buying an additional 39,845 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in CVRx in the 1st quarter valued at about $183,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.