CVRx (NASDAQ:CVRX) Given New $17.00 Price Target at Canaccord Genuity Group

CVRx (NASDAQ:CVRX) had its price objective lifted by Canaccord Genuity Group from $15.00 to $17.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on CVRX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Piper Sandler restated an “overweight” rating and set a $16.00 price target (up from $13.00) on shares of CVRx in a research report on Wednesday. Lake Street Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of CVRx in a report on Monday, August 26th. Finally, Craig Hallum decreased their target price on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

CVRx Stock Up 2.1 %

CVRX opened at $13.40 on Wednesday. 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 has a twelve month low of $6.40 and a twelve month high of $33.13. The company has a market cap of $291.99 million, a PE ratio of -4.96 and a beta of 1.26. The company has a 50-day moving average price of $9.15 and a 200 day moving average price of $9.58.

CVRx (NASDAQ:CVRX) last announced its earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The firm had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 88.85%. During the same period in the previous year, the company earned ($0.43) EPS. Sell-side analysts expect that CVRx will post -2.56 earnings per share for the current fiscal year.

Insider Activity at CVRx

In other news, CEO Kevin Hykes bought 30,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $8.36 per share, for a total transaction 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 acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders bought 38,500 shares of company stock valued at $322,545. 18.90% of the stock is owned by company insiders.

Institutional Trading of CVRx

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in CVRx in the third quarter worth approximately $108,000. 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 last quarter. Dimensional Fund Advisors LP acquired a new position in shares of CVRx in the 2nd quarter valued at $218,000. International Assets Investment Management LLC purchased a new position in shares of CVRx during the 3rd quarter worth $338,000. Finally, FourWorld Capital Management LLC acquired a new stake in shares of CVRx during the 1st quarter worth about $374,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.