CVRx (NASDAQ:CVRX) Price Target Raised to $22.00 at Craig Hallum

CVRx (NASDAQ:CVRX) had its price objective increased by Craig Hallum from $20.00 to $22.00 in a report released on Friday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on CVRX. Lake Street Capital increased their target price on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective (up from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of CVRx in a research report on Wednesday, October 23rd. Canaccord Genuity Group increased their price target on CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

CVRx Trading Up 1.8 %

CVRX opened at $17.62 on Friday. The stock has a 50-day moving average of $14.12 and a 200 day moving average of $11.13. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. CVRx has a 12 month low of $6.40 and a 12 month high of $29.23. The firm has a market cap of $427.46 million, a P/E ratio of -6.53 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last announced its earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The company had revenue of $13.37 million during the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same quarter last year, the firm posted ($0.43) EPS. As a group, research analysts forecast that CVRx will post -2.62 EPS for the current year.

Institutional Trading of CVRx

A number of large investors have recently modified their holdings of CVRX. Bank of New York Mellon Corp raised its position in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after purchasing an additional 8,741 shares in the last quarter. Rhumbline Advisers increased its stake in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after buying an additional 3,863 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of CVRx in the second quarter valued at about $218,000. Marshall Wace LLP bought a new stake in shares of CVRx in the second quarter valued at about $495,000. Finally, Squarepoint Ops LLC lifted its stake in CVRx by 26.3% in the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock worth $1,103,000 after acquiring an additional 19,165 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.