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

CVRx, Inc. (NASDAQ:CVRX) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $13.60.

CVRX has been the subject of several research analyst reports. Craig Hallum dropped their price target on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Piper Sandler cut their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Lake Street Capital reissued a “buy” rating and set a $12.00 price target on shares of CVRx in a research note on Monday, August 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th.

CVRx Stock Performance

Shares of CVRX opened at $9.86 on Tuesday. CVRx has a 1-year low of $6.40 and a 1-year high of $33.13. The company has a market capitalization of $212.94 million, a P/E ratio of -3.99 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85. The firm’s 50 day simple moving average is $9.57 and its 200 day simple moving average is $12.78.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. The company had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $11.84 million. During the same quarter last year, the business posted ($0.56) EPS. Sell-side analysts forecast that CVRx will post -2.57 earnings per share for the current fiscal year.

Insider Transactions at CVRx

In other news, CEO Kevin Hykes purchased 30,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the acquisition, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $250,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have bought 38,500 shares of company stock worth $322,545. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVRX. Federated Hermes Inc. purchased a new position in shares of CVRx in the 4th quarter valued at approximately $102,000. Trexquant Investment LP purchased a new stake in shares of CVRx during the fourth quarter valued at $426,000. Jump Financial LLC bought a new stake in shares of CVRx in the fourth quarter worth approximately $499,000. Rhumbline Advisers lifted its position in 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 purchasing an additional 3,863 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in CVRx in the second quarter worth approximately $218,000. Institutional investors own 75.27% 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.