CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Rating of "Moderate Buy" from Analysts

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $13.67.

Several research firms have recently issued reports on CVRX. Craig Hallum decreased their target price on CVRx from $23.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. Lake Street Capital restated a "buy" rating and set a $12.00 target price on shares of CVRx in a research report on Monday, August 26th. Piper Sandler decreased their target price on CVRx from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, July 30th. Canaccord Genuity Group boosted their target price on CVRx from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $14.00 target price on shares of CVRx in a research report on Wednesday.

CVRx Trading Up 0.2 %

CVRX stock traded up $0.02 during midday trading on Wednesday, reaching $10.17. The stock had a trading volume of 261,386 shares, compared to its average volume of 263,986. The business has a fifty day simple moving average of $8.64 and a two-hundred day simple moving average of $9.83. 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 firm has a market cap of $219.63 million, a price-to-earnings ratio of -4.06 and a beta of 1.26. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13.

CVRx (NASDAQ:CVRX - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). The firm had revenue of $11.81 million during the quarter, compared to analyst estimates of $11.84 million. CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. During the same quarter in the previous year, the business earned ($0.56) earnings per share. As a group, research analysts expect that CVRx will post -2.56 EPS for the current fiscal year.

Insider Buying and Selling at CVRx

In other news, CEO Kevin Hykes bought 30,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the purchase, the chief executive officer now owns 30,000 shares of the company's stock, valued at approximately $250,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 38,500 shares of company stock worth $322,545. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On CVRx

A number of institutional investors and hedge funds have recently made changes to their positions in CVRX. Johnson & Johnson increased its holdings in shares of CVRx by 17.4% during the 1st quarter. Johnson & Johnson now owns 4,103,430 shares of the company's stock worth $74,723,000 after acquiring an additional 607,855 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CVRx by 5.6% during the 1st 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 during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of CVRx by 70.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company's stock worth $4,625,000 after acquiring an additional 105,198 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of CVRx by 26.3% during the 2nd quarter. Squarepoint Ops LLC now owns 91,999 shares of the company's stock worth $1,103,000 after acquiring an additional 19,165 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of CVRx during the 2nd quarter worth approximately $495,000. Institutional investors own 75.27% of the company's stock.

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.