CVRx, Inc. (NASDAQ:CVRX) Receives $16.67 Consensus PT from Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $16.67.

CVRX has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Lake Street Capital boosted their target price on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Canaccord Genuity Group lifted their price objective on shares of CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Craig Hallum upped their target price on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

CVRx Stock Performance

CVRX stock opened at $14.17 on Monday. The company has a 50 day moving average price of $14.00 and a 200 day moving average price of $10.95. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $29.23. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23. The stock has a market capitalization of $343.82 million, a PE ratio of -5.25 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. The business 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 firm earned ($0.43) earnings per share. Analysts forecast that CVRx will post -2.62 EPS for the current year.

Hedge Funds Weigh In On CVRx

Several institutional investors and hedge funds have recently modified their holdings of CVRX. Bank of New York Mellon Corp boosted its holdings in shares of CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after buying an additional 8,741 shares during the period. Rhumbline Advisers boosted its holdings 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 acquiring an additional 3,863 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of CVRx in the second quarter valued at approximately $218,000. Marshall Wace LLP bought a new position in shares of CVRx during the second quarter worth approximately $495,000. Finally, Squarepoint Ops LLC increased its stake in shares of CVRx by 26.3% during the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock worth $1,103,000 after purchasing an additional 19,165 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.