CVRx (NASDAQ:CVRX) Stock Rating Upgraded by William Blair

William Blair upgraded shares of CVRx (NASDAQ:CVRX) from a market perform rating to an outperform rating in a research report released on Tuesday morning, Marketbeat.com reports.

A number of other analysts also recently issued reports on CVRX. Canaccord Genuity Group lifted 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. Craig Hallum raised their target price on CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target (up from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd. Finally, Lake Street Capital boosted their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

CVRx Stock Up 7.4 %

Shares of NASDAQ:CVRX opened at $16.15 on Tuesday. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $29.23. The firm’s 50 day moving average price is $14.01 and its 200 day moving average price is $11.00. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. The stock has a market cap of $391.86 million, a price-to-earnings ratio of -5.98 and a beta of 1.26.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CVRX. Parkman Healthcare Partners LLC boosted its holdings in shares of CVRx by 52.6% in the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock valued at $6,016,000 after acquiring an additional 235,277 shares during the period. PDT Partners LLC purchased a new stake in CVRx in the 3rd quarter valued at $543,000. Marshall Wace LLP acquired a new stake in CVRx during the 2nd quarter worth $495,000. International Assets Investment Management LLC purchased a new position in CVRx during the 3rd quarter worth $338,000. Finally, State Street Corp increased its stake in CVRx by 11.4% in the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after purchasing an additional 27,071 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.