CVRx (NASDAQ:CVRX) Releases Earnings Results

CVRx (NASDAQ:CVRX) posted its earnings results on Monday. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14), Yahoo Finance reports. The business had revenue of $11.81 million during the quarter, compared to the consensus estimate of $11.84 million. CVRx had a negative return on equity of 72.51% and a negative net margin of 122.52%. During the same period in the previous year, the business posted ($0.56) EPS. CVRx updated its Q3 2024 guidance to EPS.

CVRx Price Performance

Shares of CVRx stock traded up $0.87 during trading hours on Wednesday, hitting $8.80. The company’s stock had a trading volume of 170,884 shares, compared to its average volume of 251,468. The business has a 50 day moving average price of $9.65 and a two-hundred day moving average price of $15.63. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The company has a market cap of $190.04 million, a PE ratio of -3.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVRX. Lake Street Capital reduced their target price on CVRx from $18.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Piper Sandler reduced their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday. Craig Hallum cut their price objective on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. William Blair lowered CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered CVRx from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $13.00 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

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.