FY2024 EPS Estimates for CVRx Lowered by Cantor Fitzgerald

CVRx, Inc. (NASDAQ:CVRX - Free Report) - Research analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for shares of CVRx in a report issued on Wednesday, October 30th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will earn ($2.59) per share for the year, down from their prior estimate of ($2.54). 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 ($2.56) per share.

CVRx (NASDAQ:CVRX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.12). The business had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative return on equity of 88.85% and a negative net margin of 123.75%. During the same period last year, the company posted ($0.43) EPS.

CVRX has been the subject of several other research reports. Canaccord Genuity Group increased their price objective on shares of CVRx from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday. Lake Street Capital increased their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler reaffirmed an "overweight" rating and issued a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday. Finally, Craig Hallum lowered their price objective on shares of CVRx from $23.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. 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 company presently has an average rating of "Moderate Buy" and an average price target of $15.00.

CVRx Trading Up 2.1 %

CVRX traded up $0.28 on Friday, reaching $13.40. 298,806 shares of the company's stock were exchanged, compared to its average volume of 272,649. The company's 50 day moving average is $9.06 and its 200-day moving average is $9.61. The company has a market cap of $291.99 million, a price-to-earnings ratio of -4.96 and a beta of 1.26. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08.

Institutional Investors Weigh In On CVRx

Several large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company's stock valued at $207,000 after purchasing an additional 3,863 shares during the period. Bank of New York Mellon Corp increased its holdings 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 valued at $446,000 after purchasing an additional 8,741 shares during the period. SG Americas Securities LLC acquired a new position in shares of CVRx during the third quarter valued at $108,000. Dimensional Fund Advisors LP acquired a new position in shares of CVRx during the second quarter valued at $218,000. Finally, Squarepoint Ops LLC increased its holdings in shares of CVRx by 26.3% during the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company's stock valued at $1,103,000 after purchasing an additional 19,165 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kevin Hykes acquired 30,000 shares of CVRx stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company's stock, valued at $250,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought 38,500 shares of company stock worth $322,545 over the last ninety days. 18.90% of the stock is owned by insiders.

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.