CVRx, Inc. (NASDAQ:CVRX) Receives Average Recommendation of “Moderate Buy” from Analysts

CVRx, Inc. (NASDAQ:CVRX) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.83.

CVRX has been the subject of a number of research analyst reports. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of CVRx in a report on Wednesday, October 23rd. Canaccord Genuity Group upped their target price on CVRx from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum raised their price target on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Lake Street Capital raised their target price on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Hedge Funds Weigh In On CVRx

Several hedge funds and other institutional investors have recently made changes to their positions in CVRX. Bank of New York Mellon Corp increased its stake in CVRx by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company’s stock valued at $385,000 after acquiring an additional 1,296 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of CVRx by 36.1% in the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after purchasing an additional 5,053 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CVRx by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock valued at $2,600,000 after purchasing an additional 6,443 shares during the last quarter. Calamos Advisors LLC acquired a new position in shares of CVRx during the 4th quarter worth $134,000. Finally, SG Americas Securities LLC acquired a new position in shares of CVRx during the 3rd quarter worth $108,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

CVRx Stock Performance

NASDAQ CVRX opened at $14.71 on Friday. CVRx has a 1 year low of $6.40 and a 1 year high of $25.03. The firm has a market capitalization of $356.86 million, a P/E ratio of -5.45 and a beta of 1.29. The firm’s fifty day moving average price is $14.70 and its two-hundred day moving average price is $11.75. 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 (NASDAQ:CVRX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. As a group, research analysts anticipate that CVRx will post -2.61 EPS for the current 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.