CVRx (NASDAQ:CVRX) Releases Earnings Results, Misses Estimates By $0.12 EPS

CVRx (NASDAQ:CVRX) posted its earnings results on Tuesday. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12), Zacks reports. CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The firm had revenue of $13.37 million for the quarter, compared to the consensus estimate of $13.28 million. During the same period last year, the company posted ($0.43) EPS. CVRx updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CVRx Trading Down 6.3 %

NASDAQ:CVRX traded down $0.89 during trading hours on Thursday, reaching $13.18. The company’s stock had a trading volume of 205,354 shares, compared to its average volume of 271,147. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08. The firm has a market capitalization of $287.14 million, a price-to-earnings ratio of -5.21 and a beta of 1.26. The firm has a 50-day simple moving average of $8.96 and a 200-day simple moving average of $9.58. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVRX. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday. Lake Street Capital boosted their price objective on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Canaccord Genuity Group raised their price objective on shares of CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Craig Hallum reduced their target price on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Insider Buying and Selling at CVRx

In related news, CEO Kevin Hykes bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 38,500 shares of company stock worth $322,545 over the last three months. Company insiders own 18.90% 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.