CVRx (NASDAQ:CVRX) Given "Overweight" Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of CVRx (NASDAQ:CVRX - Free Report) in a report released on Wednesday, Benzinga reports. The firm currently has a $16.00 price objective on the stock, up from their prior price objective of $13.00.

CVRX has been the subject of several other reports. Canaccord Genuity Group increased their price objective on shares of CVRx from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Craig Hallum lowered their price objective on CVRx from $23.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. Finally, Lake Street Capital reissued a "buy" rating and issued a $12.00 price objective on shares of CVRx in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.00.

CVRx Trading Up 31.0 %

CVRX traded up $3.33 during midday trading on Wednesday, hitting $14.07. 1,332,835 shares of the company were exchanged, compared to its average volume of 271,500. The firm's 50 day moving average price is $8.96 and its 200-day moving average price is $9.58. CVRx has a 1-year low of $6.40 and a 1-year high of $33.13. The firm has a market capitalization of $306.53 million, a P/E ratio of -5.21 and a beta of 1.26. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53.

CVRx (NASDAQ:CVRX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.12). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The company had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. During the same period in the prior year, the firm earned ($0.43) earnings per share. As a group, equities analysts forecast that CVRx will post -2.56 EPS for the current fiscal year.

Insider Transactions at CVRx

In other news, CEO Kevin Hykes bought 30,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 30,000 shares of the company's stock, valued at approximately $250,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 38,500 shares of company stock valued at $322,545 in the last 90 days. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of CVRx

Hedge funds have recently bought and sold shares of the business. Silvercrest Asset Management Group LLC lifted 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 valued at $4,625,000 after buying an additional 105,198 shares in the last quarter. Vanguard Group Inc. lifted its position in CVRx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company's stock valued at $10,822,000 after acquiring an additional 31,720 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $446,000 after purchasing an additional 8,741 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in CVRx during the 2nd quarter worth approximately $218,000. Finally, Marshall Wace LLP purchased a new stake in shares of CVRx in the second quarter worth approximately $495,000. Institutional investors and hedge funds own 75.27% of the company's stock.

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.