CVRx (NASDAQ:CVRX) Stock Bumped Up to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of CVRx (NASDAQ:CVRX) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on CVRX. Piper Sandler cut CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target for the company. in a research report on Friday, August 7th. Cantor Fitzgerald reduced their price target on shares of CVRx from $13.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a research note on Monday, August 3rd. Lake Street Capital downgraded shares of CVRx from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.00 to $3.50 in a report on Friday, August 7th. Finally, Craig Hallum lowered shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.30.

CVRx Price Performance

CVRx stock opened at $1.58 on Friday. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. CVRx has a 12-month low of $1.50 and a 12-month high of $11.30. The firm has a market capitalization of $42.09 million, a PE ratio of -0.80 and a beta of 0.77. The firm has a 50-day moving average price of $2.90 and a 200-day moving average price of $5.12.

CVRx (NASDAQ:CVRX) last issued its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. The company had revenue of $15.71 million for the quarter, compared to analysts’ expectations of $15.55 million. As a group, equities research analysts forecast that CVRx will post -2.00 EPS for the current year.

Insider Buying and Selling

In related news, COO Brent Binkowski bought 26,223 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $2.91 per share, with a total value of $76,308.93. Following the completion of the acquisition, the chief operating officer directly owned 56,514 shares in the company, valued at approximately $164,455.74. The trade was a 86.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CVRx

Several hedge funds have recently bought and sold shares of CVRX. Bank of America Corp DE acquired a new stake in shares of CVRx during the 2nd quarter worth approximately $102,000. BlackRock Inc. acquired a new position in shares of CVRx in the 2nd quarter valued at $6,402,000. Deutsche Bank AG acquired a new position in shares of CVRx in the 2nd quarter valued at $62,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CVRx during the second quarter worth $107,000. Finally, Bank of New York Mellon Corp purchased a new stake in CVRx during the second quarter worth $199,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About CVRx

CVRx, Inc is a medical device company that develops and commercializes neuromodulation technologies for patients with cardiovascular diseases. Founded in 2001 and headquartered in Minneapolis, Minnesota, the company focuses on therapies that use the body’s natural neural pathways to help regulate cardiovascular function.

Its principal product is Barostim, an implantable system designed to treat certain patients with heart failure. The device uses a pulse generator and leads placed near the carotid arteries to electrically activate the baroreflex, a system involved in regulating the heart, blood vessels and nervous system.