CVRx (NASDAQ:CVRX) Receives Overweight Rating from Cantor Fitzgerald

CVRx (NASDAQ:CVRX - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $14.00 price objective on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 37.66% from the stock's current price.

A number of other research firms also recently issued reports on CVRX. Lake Street Capital reissued a "buy" rating and issued a $12.00 price objective on shares of CVRx in a report on Monday, August 26th. Canaccord Genuity Group lifted their price target on shares of CVRx from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Craig Hallum lowered their price target on shares of CVRx from $23.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, July 11th. Finally, Piper Sandler lowered their price target on shares of CVRx from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.67.

CVRx Stock Up 0.2 %

NASDAQ:CVRX traded up $0.02 on Wednesday, reaching $10.17. 261,386 shares of the stock traded hands, compared to its average volume of 263,986. The company has a market capitalization of $219.63 million, a price-to-earnings ratio of -4.06 and a beta of 1.26. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13. The company's fifty day simple moving average is $8.64 and its 200 day simple moving average is $9.83.

CVRx (NASDAQ:CVRX - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $11.81 million for the quarter, compared to the consensus estimate of $11.84 million. CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. During the same quarter in the prior year, the business posted ($0.56) earnings per share. Equities analysts predict that CVRx will post -2.56 EPS for the current fiscal year.

Insider Transactions at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of the business's stock in a transaction dated 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 acquisition, the chief executive officer now owns 30,000 shares in the company, valued at approximately $250,800. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 38,500 shares of company stock worth $322,545. Insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC lifted its position in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company's stock valued at $4,625,000 after buying an additional 105,198 shares during the last quarter. Vanguard Group Inc. raised its position in 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 buying an additional 31,720 shares during the last quarter. Bank of New York Mellon Corp raised its position in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company's stock worth $446,000 after buying an additional 8,741 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of CVRx during the 2nd quarter worth approximately $218,000. Finally, Rhumbline Advisers grew its stake in shares of CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company's stock worth $207,000 after purchasing an additional 3,863 shares during the period. 75.27% of the stock is currently owned by 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.