CVRx, Inc. (NASDAQ:CVRX) Stock Rated “Hold” by Sell-Side Analysts

CVRx, Inc. (NASDAQ:CVRX) has earned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.30.

A number of brokerages have weighed in on CVRX. Lake Street Capital cut shares of CVRx from a “buy” rating to a “hold” rating and dropped their price target for the company from $14.00 to $3.50 in a research report on Friday, August 7th. Cantor Fitzgerald decreased their price objective on shares of CVRx from $13.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Piper Sandler lowered shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price objective on the stock. in a report on Friday, August 7th. Canaccord Genuity Group set a $5.00 price objective on shares of CVRx in a research report on Tuesday, September 22nd. Finally, Wall Street Zen upgraded shares of CVRx from a “sell” rating to a “hold” rating in a report on Saturday, October 10th.

Insider Buying and Selling

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

Institutional Investors Weigh In On CVRx

Institutional investors have recently modified their holdings of the company. Aaron Wealth Advisors LLC acquired a new position in CVRx during the 1st quarter worth about $101,000. Deutsche Bank AG purchased a new position in CVRx during the 2nd quarter valued at about $62,000. Renaissance Technologies LLC acquired a new position in CVRx in the 1st quarter valued at about $183,000. Bank of America Corp DE acquired a new stake in shares of CVRx during the second quarter worth about $102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CVRx during the second quarter worth about $107,000. 75.27% of the stock is owned by institutional investors and hedge funds.

CVRx Stock Performance

NASDAQ:CVRX opened at $1.39 on Wednesday. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. The company’s 50-day moving average price is $2.50 and its 200-day moving average price is $4.72. CVRx has a twelve month low of $1.25 and a twelve month high of $11.30. The company has a market cap of $37.03 million, a P/E ratio of -0.70 and a beta of 0.77.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.01). The firm had revenue of $15.71 million for the quarter, compared to analyst estimates of $15.55 million. CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%. On average, sell-side analysts forecast that CVRx will post -2.00 earnings per share for the current fiscal year.

CVRx Company Profile

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.