Equities Analysts Offer Predictions for CVRx FY2024 Earnings

CVRx, Inc. (NASDAQ:CVRX - Free Report) - Investment analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for CVRx in a research report issued to clients and investors on Tuesday, December 3rd. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will post earnings per share of ($2.57) for the year, up from their prior estimate of ($2.59). Cantor Fitzgerald has a "Overweight" rating and a $14.00 price target on the stock. The consensus estimate for CVRx's current full-year earnings is ($2.62) per share.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. During the same quarter last year, the firm posted ($0.43) earnings per share.

A number of other research firms have also issued reports on CVRX. Lake Street Capital boosted their price objective on CVRx from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on CVRx from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Piper Sandler restated an "overweight" rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Finally, Craig Hallum boosted their price objective on CVRx from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.83.

CVRx Stock Performance

NASDAQ:CVRX traded down $1.39 during midday trading on Thursday, reaching $13.40. 175,544 shares of the company traded hands, compared to its average volume of 274,612. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. The firm has a market capitalization of $325.08 million, a price-to-earnings ratio of -5.08 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23. The company has a fifty day moving average price of $11.94 and a 200 day moving average price of $10.15.

Institutional Trading of CVRx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company's stock worth $207,000 after buying an additional 3,863 shares in the last quarter. Jane Street Group LLC raised its position in shares of CVRx by 36.1% during the third quarter. Jane Street Group LLC now owns 19,038 shares of the company's stock worth $168,000 after purchasing an additional 5,053 shares during the period. Geode Capital Management LLC raised its position in shares of CVRx by 2.2% during the third quarter. Geode Capital Management LLC now owns 295,124 shares of the company's stock worth $2,600,000 after purchasing an additional 6,443 shares during the period. Bank of New York Mellon Corp raised its position in shares of CVRx by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company's stock worth $446,000 after purchasing an additional 8,741 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of CVRx during the third quarter worth $108,000. Institutional investors own 75.27% of the company's stock.

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.