Shares of CVRx, Inc. (NASDAQ:CVRX – Get Free Report) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $4.30.
Several research analysts have recently commented on the company. Canaccord Genuity Group set a $5.00 price objective on CVRx in a report on Tuesday. Wall Street Zen cut CVRx from a “hold” rating to a “sell” rating in a research note on Sunday, September 20th. Lake Street Capital lowered shares of CVRx from a “buy” rating to a “hold” rating and lowered their price target for the company from $14.00 to $3.50 in a report on Friday, August 7th. Craig Hallum lowered shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a report on Friday, August 7th. Finally, Piper Sandler cut shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price objective on the stock. in a research report on Friday, August 7th.
Read Our Latest Stock Report on CVRX
Insider Transactions at CVRx
Hedge Funds Weigh In On CVRx
Hedge funds have recently made changes to their positions in the business. Johnson & Johnson bought a new position in shares of CVRx during the second quarter valued at approximately $20,687,786. Royal Bank of Canada boosted its holdings in CVRx by 6,559.3% in the first quarter. Royal Bank of Canada now owns 706,950 shares of the company’s stock valued at $6,688,000 after acquiring an additional 696,334 shares in the last quarter. BlackRock Inc. purchased a new position in CVRx during the 2nd quarter valued at $6,402,000. FourWorld Capital Management LLC increased its position in CVRx by 28.9% during the 1st quarter. FourWorld Capital Management LLC now owns 231,996 shares of the company’s stock valued at $2,195,000 after purchasing an additional 51,996 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in 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 purchasing an additional 39,845 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.
CVRx Stock Performance
Shares of NASDAQ CVRX opened at $2.70 on Friday. The stock’s 50-day moving average is $3.54 and its 200 day moving average is $5.55. The stock has a market cap of $71.93 million, a price-to-earnings ratio of -1.36 and a beta of 0.76. CVRx has a 1-year low of $2.20 and a 1-year high of $11.30. 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 (NASDAQ:CVRX – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%.The business had revenue of $15.71 million for the quarter, compared to analysts’ expectations of $15.55 million. On average, sell-side analysts anticipate that CVRx will post -2 EPS for the current fiscal year.
CVRx Company Profile
CVRx, Inc is a medical device company that develops and commercializes neuromodulation therapies for patients with cardiovascular diseases. The company’s technology is designed to use the body’s nervous system to help regulate cardiovascular function and address conditions that may not be adequately managed with conventional drug therapy.
CVRx’s primary product is Barostim, an implantable system that electrically stimulates the baroreceptors located near the carotid arteries. The therapy is intended to activate the body’s natural cardiovascular regulation mechanisms and is used primarily in eligible patients with heart failure, including certain patients with reduced ejection fraction.
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