Lake Street Capital Reiterates "Buy" Rating for CVRx (NASDAQ:CVRX)

Lake Street Capital reissued their buy rating on shares of CVRx (NASDAQ:CVRX - Free Report) in a report issued on Monday, Benzinga reports. The brokerage currently has a $12.00 price objective on the stock.

CVRX has been the topic of several other reports. Piper Sandler reduced their price target on CVRx from $15.00 to $13.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th. William Blair lowered CVRx from an outperform rating to a market perform rating in a research report on Wednesday, May 1st. Canaccord Genuity Group increased their price target on shares of CVRx from $14.00 to $15.00 and gave the company a buy rating in a research report on Tuesday, July 30th. Craig Hallum reduced their price objective on shares of CVRx from $23.00 to $15.00 and set a buy rating on the stock in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. downgraded shares of CVRx from an overweight rating to a neutral rating and lowered their target price for the company from $36.00 to $13.00 in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, CVRx currently has a consensus rating of Moderate Buy and a consensus target price of $13.60.

CVRx Trading Up 14.5 %

NASDAQ:CVRX traded up $1.27 on Monday, hitting $10.00. 960,318 shares of the stock were exchanged, compared to its average volume of 266,943. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13. The stock has a market capitalization of $215.96 million, a price-to-earnings ratio of -4.05 and a beta of 1.25. The company's 50-day moving average price is $9.70 and its 200 day moving average price is $13.36.

CVRx (NASDAQ:CVRX - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). CVRx had a negative return on equity of 72.51% and a negative net margin of 122.52%. The business had revenue of $11.81 million for the quarter, compared to the consensus estimate of $11.84 million. During the same period last year, the firm earned ($0.56) earnings per share. On average, equities research analysts forecast that CVRx will post -2.57 earnings per share for the current year.

Insider Activity

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $8.36 per share, with a total value of $250,800.00. Following the purchase, the chief executive officer now owns 30,000 shares in the company, valued at $250,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 38,500 shares of company stock worth $322,545 in the last 90 days. Corporate insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On CVRx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC raised its stake in shares of CVRx by 70.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company's stock valued at $4,625,000 after purchasing an additional 105,198 shares during the period. Jump Financial LLC acquired a new stake in CVRx in the 4th quarter valued at approximately $499,000. Trexquant Investment LP bought a new stake in CVRx in the 4th quarter valued at approximately $426,000. Federated Hermes Inc. bought a new position in shares of CVRx during the 4th quarter worth approximately $102,000. Finally, Vanguard Group Inc. grew its position in CVRx by 5.6% in the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company's stock valued at $10,822,000 after purchasing an additional 31,720 shares in the last quarter. 75.27% of the stock is 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.