CVRx, Inc. (NASDAQ:CVRX) Receives $13.67 Average Price Target from Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $13.67.

CVRX has been the topic of a number of recent analyst reports. Lake Street Capital reiterated a “buy” rating and set a $12.00 target price on shares of CVRx in a research report on Monday, August 26th. Canaccord Genuity Group upped their price target on CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler decreased their price target on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Cantor Fitzgerald began coverage on shares of CVRx in a research report on Tuesday, September 10th. They issued an “overweight” rating and a $14.00 price target for the company. Finally, Craig Hallum lowered their price target on shares of CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th.

Insider Activity at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired a total of 38,500 shares of company stock worth $322,545 in the last 90 days. 18.90% of the stock is owned by insiders.

Institutional Trading of CVRx

Institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC increased its position in shares of CVRx by 26.3% in the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock valued at $1,103,000 after buying an additional 19,165 shares in the last quarter. Marshall Wace LLP acquired a new stake in CVRx during the second quarter worth about $495,000. Dimensional Fund Advisors LP acquired a new stake in CVRx in the 2nd quarter valued at $218,000. Rhumbline Advisers increased its stake in CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after buying an additional 3,863 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in CVRx by 30.7% in the second 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 in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Trading Up 0.2 %

Shares of NASDAQ:CVRX opened at $8.69 on Friday. The business’s 50-day moving average is $8.70 and its 200 day moving average is $10.90. The firm has a market capitalization of $187.67 million, a P/E ratio of -3.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13.

CVRx (NASDAQ:CVRX) last issued its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). The business had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $11.84 million. CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. During the same period last year, the business earned ($0.56) EPS. On average, research analysts predict that CVRx will post -2.56 earnings per share for the current fiscal year.

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.