CVRx (NASDAQ:CVRX) Releases Earnings Results, Misses Estimates By $0.12 EPS

CVRx (NASDAQ:CVRX) released its quarterly earnings data on Tuesday. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12), Zacks reports. CVRx had a negative net margin of 123.75% and a negative return on equity of 88.85%. The business had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $13.28 million. During the same period last year, the business earned ($0.43) earnings per share. CVRx updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CVRx Stock Performance

Shares of NASDAQ:CVRX traded up $0.24 during midday trading on Friday, hitting $13.36. The company had a trading volume of 146,468 shares, compared to its average volume of 271,980. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The company has a fifty day moving average of $9.06 and a two-hundred day moving average of $9.61. The company has a market cap of $291.11 million, a price-to-earnings ratio of -4.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85.

Analyst Upgrades and Downgrades

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

Insider Activity at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of CVRx stock in a transaction on 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 transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at $250,800. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have purchased 38,500 shares of company stock worth $322,545. Corporate insiders own 18.90% 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.