CVRx (NASDAQ:CVRX) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum assumed coverage on shares of CVRx (NASDAQ:CVRX) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $23.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler lifted their price target on CVRx from $21.00 to $33.00 and gave the company an overweight rating in a research note on Friday, January 26th. William Blair downgraded CVRx from an outperform rating to a market perform rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered CVRx from an overweight rating to a neutral rating and reduced their target price for the company from $36.00 to $13.00 in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $16.60.

CVRx Stock Performance

Shares of CVRX opened at $9.22 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.25 and a quick ratio of 12.86. The stock has a 50-day moving average of $17.85 and a 200-day moving average of $20.88. The company has a market cap of $199.06 million, a PE ratio of -3.73 and a beta of 1.35. CVRx has a one year low of $7.77 and a one year high of $33.13.

Insider Activity

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Paul Verrastro sold 2,545 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total value of $55,760.95. Following the transaction, the insider now owns 2,455 shares in the company, valued at $53,789.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVRx

Several institutional investors have recently bought and sold shares of CVRX. Lord Abbett & CO. LLC purchased a new position in CVRx in the third quarter valued at approximately $7,116,000. GSG Advisors LLC purchased a new stake in shares of CVRx during the third quarter worth $2,435,000. Kestra Advisory Services LLC purchased a new stake in shares of CVRx during the third quarter worth $462,000. Schonfeld Strategic Advisors LLC lifted its position in shares of CVRx by 47.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 59,900 shares of the company’s stock worth $909,000 after acquiring an additional 19,200 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of CVRx during the first quarter worth $346,000. Hedge funds and other 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.