CVRx (NASDAQ:CVRX) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

CVRx (NASDAQ:CVRX) posted its quarterly earnings data on Tuesday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12), Zacks reports. The firm had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 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 company posted ($0.43) EPS. CVRx updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CVRx Stock Performance

Shares of NASDAQ:CVRX traded up $3.33 during midday trading on Wednesday, reaching $14.07. 1,332,835 shares of the company’s stock traded hands, compared to its average volume of 271,500. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08. CVRx has a one year low of $6.40 and a one year high of $33.13. The company has a market cap of $306.53 million, a price-to-earnings ratio of -5.21 and a beta of 1.26. The stock has a 50 day moving average of $8.96 and a 200 day moving average of $9.58.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Kevin Hykes bought 30,000 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the purchase, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $250,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 38,500 shares of company stock worth $322,545. 18.90% of the stock is owned by corporate insiders.

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.