CVRx (NASDAQ:CVRX) Now Covered by Craig Hallum

Craig Hallum began coverage on shares of CVRx (NASDAQ:CVRX) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $23.00 target price on the stock.

Several other research firms have also weighed in on CVRX. William Blair lowered CVRx from an outperform rating to a market perform rating in a research note on Wednesday. Piper Sandler increased their price target on CVRx from $21.00 to $33.00 and gave the stock an overweight rating in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. downgraded CVRx from an overweight rating to a neutral rating and lowered their price target for the stock from $36.00 to $13.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CVRx presently has an average rating of Moderate Buy and a consensus price target of $16.60.

CVRx Trading Up 8.7 %

NASDAQ:CVRX opened at $9.22 on Wednesday. CVRx has a 1-year low of $7.77 and a 1-year high of $33.13. The business’s 50-day moving average price is $18.11 and its two-hundred day moving average price is $20.90. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $199.06 million, a price-to-earnings ratio of -3.76 and a beta of 1.35.

Insiders Place Their Bets

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Verrastro sold 2,545 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total value of $55,760.95. Following the transaction, the insider now owns 2,455 shares of the company’s stock, valued at $53,789.05. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Emerald Advisers LLC grew its holdings in shares of CVRx by 1.3% during the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after buying an additional 6,419 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in CVRx in the third quarter valued at approximately $7,116,000. Emerald Mutual Fund Advisers Trust grew its stake in CVRx by 4.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock valued at $6,536,000 after purchasing an additional 16,808 shares in the last quarter. Parkman Healthcare Partners LLC grew its stake in CVRx by 8.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after purchasing an additional 17,880 shares in the last quarter. Finally, GSG Advisors LLC bought a new position in CVRx in the third quarter valued at approximately $2,435,000. 75.27% of the stock is currently owned by institutional investors.

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.