CVRx, Inc. (NASDAQ:CVRX) Receives Average Recommendation of “Moderate Buy” from Analysts

CVRx, Inc. (NASDAQ:CVRX) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $13.60.

Several research analysts recently commented on CVRX shares. 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. Canaccord Genuity Group boosted their target price 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. Finally, Lake Street Capital reissued a “buy” rating and set a $12.00 target price on shares of CVRx in a research report on Monday, August 26th.

Insider Activity

In other CVRx news, CEO Kevin Hykes acquired 30,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $8.36 per share, with a total value of $250,800.00. Following the acquisition, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired 38,500 shares of company stock valued at $322,545 in the last ninety days. Insiders own 18.90% of the company’s stock.

Institutional Trading of CVRx

Several large investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its holdings in shares of CVRx by 26.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock valued at $1,103,000 after acquiring an additional 19,165 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of CVRx in the 2nd quarter valued at $495,000. Dimensional Fund Advisors LP acquired a new position in shares of CVRx in the 2nd quarter valued at $218,000. Rhumbline Advisers lifted its stake in shares of CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after purchasing an additional 3,863 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of CVRx by 30.7% in 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 period. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Trading Down 5.5 %

NASDAQ CVRX opened at $7.96 on Tuesday. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. The firm has a market cap of $173.45 million, a PE ratio of -3.22 and a beta of 1.27. The company has a 50 day moving average price of $9.28 and a 200 day moving average price of $12.29. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate 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 return on equity of 77.62% and a negative net margin of 122.52%. During the same quarter last year, the firm earned ($0.56) EPS. As a group, sell-side analysts forecast that CVRx will post -2.57 EPS for the current fiscal year.

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.