CVRx (NASDAQ:CVRX) Raised to Outperform at William Blair

CVRx (NASDAQ:CVRX) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, Marketbeat reports.

Several other equities analysts have also commented on CVRX. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price objective on shares of CVRx in a research report on Wednesday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target (up previously from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Lake Street Capital boosted their price objective on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Craig Hallum raised their price objective on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Canaccord Genuity Group lifted their target price on CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

CVRx Stock Up 5.3 %

CVRX opened at $17.00 on Tuesday. The company has a market capitalization of $412.49 million, a PE ratio of -6.30 and a beta of 1.26. The firm has a 50-day simple moving average of $14.01 and a two-hundred day simple moving average of $11.00. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. CVRx has a 52 week low of $6.40 and a 52 week high of $29.23.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The firm had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. During the same quarter in the prior year, the business earned ($0.43) EPS. Analysts forecast that CVRx will post -2.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVRX. Bank of New York Mellon Corp boosted its holdings in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after acquiring an additional 8,741 shares during the period. Rhumbline Advisers lifted its position in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of CVRx during the second quarter valued at $218,000. Marshall Wace LLP bought a new position in shares of CVRx in the second quarter worth about $495,000. Finally, Squarepoint Ops LLC increased its stake in CVRx by 26.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock worth $1,103,000 after buying an additional 19,165 shares during the period. 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.