CVRx (NASDAQ:CVRX) Price Target Raised to $23.00 at Canaccord Genuity Group

CVRx (NASDAQ:CVRX - Get Free Report) had its price target lifted by stock analysts at Canaccord Genuity Group from $22.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target points to a potential upside of 57.10% from the company's current price.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $16.00 target price (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Lake Street Capital boosted their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Craig Hallum upped their price objective on shares of CVRx from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Finally, William Blair upgraded shares of CVRx from a "market perform" rating to an "outperform" rating in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.83.

CVRx Stock Down 0.5 %

Shares of NASDAQ CVRX traded down $0.07 during mid-day trading on Wednesday, reaching $14.64. The company had a trading volume of 162,348 shares, compared to its average volume of 295,083. The stock has a market capitalization of $355.17 million, a PE ratio of -5.44 and a beta of 1.30. CVRx has a twelve month low of $6.40 and a twelve month high of $24.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32. The stock's 50 day moving average is $14.68 and its 200-day moving average is $11.78.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 96.36% and a negative net margin of 116.91%. As a group, equities analysts anticipate that CVRx will post -1.89 earnings per share for the current fiscal year.

Institutional Trading of CVRx

Several hedge funds have recently modified their holdings of the company. Parkman Healthcare Partners LLC lifted its position in CVRx by 52.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company's stock worth $6,016,000 after buying an additional 235,277 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of CVRx in the third quarter valued at approximately $543,000. Marshall Wace LLP bought a new position in CVRx in the 2nd quarter worth approximately $495,000. International Assets Investment Management LLC acquired a new position in CVRx during the 3rd quarter worth $338,000. Finally, State Street Corp boosted its position in CVRx by 11.4% in the 3rd quarter. State Street Corp now owns 264,733 shares of the company's stock valued at $2,332,000 after buying an additional 27,071 shares during the last quarter. Institutional investors and hedge funds 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.