CVRx (NASDAQ:CVRX) Stock Price Expected to Rise, Craig Hallum Analyst Says

CVRx (NASDAQ:CVRX - Free Report) had its price objective hoisted by Craig Hallum from $15.00 to $20.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently commented on CVRX. Lake Street Capital increased 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. Piper Sandler reaffirmed an "overweight" rating and set a $16.00 price objective (up from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Canaccord Genuity Group increased 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $14.00 price objective on shares of CVRx in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.83.

CVRx Stock Up 12.3 %

Shares of NASDAQ:CVRX traded up $1.65 on Monday, hitting $15.05. 1,247,517 shares of the company traded hands, compared to its average volume of 277,453. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $9.25 and a 200-day simple moving average of $9.49. The company has a market cap of $327.88 million, a PE ratio of -5.57 and a beta of 1.15.

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 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 88.85%. The company had revenue of $13.37 million for the quarter, compared to the consensus estimate of $13.28 million. During the same quarter in the previous year, the business earned ($0.43) earnings per share. As a group, research analysts expect that CVRx will post -2.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVRX. Johnson & Johnson boosted its position in CVRx by 17.4% in the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company's stock worth $74,723,000 after purchasing an additional 607,855 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of CVRx by 70.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company's stock worth $4,625,000 after buying an additional 105,198 shares during the period. Marshall Wace LLP bought a new position in shares of CVRx in the second quarter worth about $495,000. International Assets Investment Management LLC bought a new position in shares of CVRx in the third quarter worth about $338,000. Finally, Vanguard Group Inc. raised its stake in shares of CVRx by 5.6% in the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company's stock worth $10,822,000 after buying an additional 31,720 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.