CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CVRx, Inc. (NASDAQ:CVRX) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $14.50.

A number of analysts have weighed in on the company. Canaccord Genuity Group decreased their price objective on CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Lake Street Capital decreased their price objective on CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Piper Sandler decreased their price objective on CVRx from $20.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $7.00 price objective (down from $15.00) on shares of CVRx in a research report on Friday, May 9th.

Insider Transactions at CVRx

In other CVRx news, Director Kirk G. Nielsen bought 61,200 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $5.23 per share, with a total value of $320,076.00. Following the purchase, the director now owns 1,899,168 shares in the company, valued at approximately $9,932,648.64. This represents a 3.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders acquired 78,666 shares of company stock valued at $411,031. Corporate insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On CVRx

A number of large investors have recently modified their holdings of CVRX. Calamos Advisors LLC purchased a new position in shares of CVRx during the 4th quarter worth approximately $134,000. Bank of New York Mellon Corp increased its stake in CVRx by 4.5% in the 4th quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company’s stock valued at $385,000 after purchasing an additional 1,296 shares in the last quarter. Emerald Advisers LLC increased its stake in CVRx by 47.3% in the 4th quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock valued at $7,525,000 after purchasing an additional 190,844 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CVRx by 10,520.1% in the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock valued at $7,960,000 after purchasing an additional 622,370 shares in the last quarter. Finally, Norges Bank purchased a new position in CVRx in the 4th quarter valued at approximately $1,411,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Stock Performance

Shares of CVRX stock opened at $6.23 on Thursday. The stock’s 50-day moving average is $6.90 and its two-hundred day moving average is $11.51. The firm has a market cap of $162.43 million, a price-to-earnings ratio of -2.32 and a beta of 1.30. CVRx has a 1 year low of $4.30 and a 1 year high of $18.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.03. The company had revenue of $12.35 million for the quarter, compared to analyst estimates of $14.68 million. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. Analysts predict that CVRx will post -1.91 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.