CVRx, Inc. (NASDAQ:CVRX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.80.

Several equities research analysts have commented on the stock. 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 report on Thursday, July 11th. William Blair lowered shares of CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. 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. Canaccord Genuity Group lowered their price target on CVRx from $32.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Piper Sandler reduced their price objective on CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Johnson & Johnson increased its position in CVRx by 17.4% during the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after buying an additional 607,855 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after acquiring an additional 105,198 shares during the last quarter. Vanguard Group Inc. increased its position in CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after purchasing an additional 31,720 shares in the last quarter. FourWorld Capital Management LLC acquired a new position in CVRx in the 1st quarter valued at about $374,000. Finally, Valeo Financial Advisors LLC purchased a new position in CVRx in the 1st quarter valued at about $346,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Trading Down 1.6 %

NASDAQ CVRX opened at $9.36 on Monday. The company has a quick ratio of 10.87, a current ratio of 12.18 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $202.14 million, a P/E ratio of -3.79 and a beta of 1.27. CVRx has a 52-week low of $6.40 and a 52-week high of $33.13. The firm has a 50-day moving average price of $9.47 and a 200 day moving average price of $16.58.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, April 30th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.51). CVRx had a negative return on equity of 66.05% and a negative net margin of 123.58%. The business had revenue of $10.77 million for the quarter, compared to analysts’ expectations of $11.60 million. Equities research analysts expect that CVRx will post -2.39 EPS for the current year.

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.