CVRx, Inc. (NASDAQ:CVRX) Receives Average Recommendation of "Moderate Buy" from Brokerages

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.67.

CVRX has been the topic of a number of research reports. Craig Hallum upped their price target on shares of CVRx from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Lake Street Capital increased their price objective on CVRx from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. Canaccord Genuity Group lifted their price target on shares of CVRx from $17.00 to $22.00 and gave the company a "buy" rating in a research report on Monday. Finally, Piper Sandler reissued an "overweight" rating and set a $16.00 target price (up from $13.00) on shares of CVRx in a report on Wednesday, October 30th.

CVRx Stock Down 1.5 %

CVRx stock traded down $0.21 during midday trading on Thursday, reaching $13.40. The stock had a trading volume of 113,461 shares, compared to its average volume of 272,124. CVRx has a 1-year low of $6.40 and a 1-year high of $33.13. 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 firm's fifty day simple moving average is $12.42 and its 200-day simple moving average is $10.34. The stock has a market capitalization of $325.14 million, a P/E ratio of -5.04 and a beta of 1.20.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. The business had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. As a group, analysts expect that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. PDT Partners LLC acquired a new position in CVRx in the third quarter valued at approximately $543,000. International Assets Investment Management LLC acquired a new position in shares of CVRx during the 3rd quarter valued at $338,000. Vanguard Group Inc. boosted its stake in CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company's stock worth $10,822,000 after acquiring an additional 31,720 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CVRx by 30.7% in the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company's stock valued at $446,000 after purchasing an additional 8,741 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of CVRx during the 2nd quarter worth about $218,000. 75.27% of the stock is owned by institutional investors.

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.