CVRx (NASDAQ:CVRX) Given New $22.00 Price Target at Canaccord Genuity Group

CVRx (NASDAQ:CVRX - Free Report) had its price objective lifted by Canaccord Genuity Group from $17.00 to $22.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on CVRX. Piper Sandler reiterated 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 raised their price target on CVRx from $12.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. Finally, Craig Hallum raised their target price on CVRx from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.67.

CVRx Price Performance

CVRX traded up $0.16 during midday trading on Monday, reaching $13.64. 131,161 shares of the company's stock were exchanged, compared to its average volume of 273,451. CVRx has a one year low of $6.40 and a one year high of $33.13. The firm has a market capitalization of $330.91 million, a price-to-earnings ratio of -5.05 and a beta of 1.20. The business has a 50-day simple moving average of $12.23 and a two-hundred day simple moving average of $10.28. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76.

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

Institutional Investors Weigh In On CVRx

A number of hedge funds and other institutional investors have recently made changes to their positions in CVRX. PDT Partners LLC acquired a new position in CVRx during the third quarter worth $543,000. International Assets Investment Management LLC acquired a new position in shares of CVRx during the 3rd quarter worth about $338,000. Vanguard Group Inc. raised its holdings 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 boosted its position in CVRx by 30.7% during 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 during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in CVRx in the second quarter valued at approximately $218,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.