CVRx’s (CVRX) Buy Rating Reiterated at Lake Street Capital

Lake Street Capital reissued their buy rating on shares of CVRx (NASDAQ:CVRX) in a research note issued to investors on Monday, Benzinga reports. Lake Street Capital currently has a $12.00 target price on the stock.

A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity Group lifted their target price on CVRx from $14.00 to $15.00 and gave the stock a buy rating in a 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 for the company in a research note on Thursday, July 11th. Piper Sandler dropped their target price on shares of CVRx from $15.00 to $13.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. downgraded shares of CVRx from an overweight rating to a neutral rating and reduced their price target for the company from $36.00 to $13.00 in a research report on Wednesday, May 1st. Finally, William Blair downgraded shares of CVRx from an outperform rating to a market perform rating in a research note 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. Based on data from MarketBeat, CVRx presently has a consensus rating of Moderate Buy and an average price target of $13.60.

CVRx Price Performance

Shares of NASDAQ:CVRX opened at $9.86 on Monday. The stock’s 50 day moving average price is $9.60 and its 200 day moving average price is $13.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 12.18 and a quick ratio of 10.87. The stock has a market cap of $212.94 million, a price-to-earnings ratio of -3.99 and a beta of 1.25. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13.

CVRx (NASDAQ:CVRX) last released its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) 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 firm had revenue of $11.81 million for the quarter, compared to analyst estimates of $11.84 million. During the same period in the previous year, the firm earned ($0.56) earnings per share. Equities research analysts anticipate that CVRx will post -2.57 earnings per share for the current fiscal year.

Insider Activity at CVRx

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of CVRx stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders bought 38,500 shares of company stock valued at $322,545. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC increased its position in CVRx by 70.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after buying an additional 105,198 shares during the period. Jump Financial LLC acquired a new position in CVRx during the 4th quarter valued at $499,000. Trexquant Investment LP bought a new stake in CVRx in the 4th quarter valued at $426,000. Federated Hermes Inc. acquired a new stake in CVRx in the 4th quarter worth $102,000. Finally, Vanguard Group Inc. raised its position in shares of CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after buying an additional 31,720 shares during the last quarter. 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.