FY2024 EPS Estimates for CVRx Decreased by Cantor Fitzgerald

CVRx, Inc. (NASDAQ:CVRX) – Cantor Fitzgerald dropped their FY2024 earnings per share estimates for shares of CVRx in a research report issued to clients and investors on Wednesday, October 30th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings of ($2.59) per share for the year, down from their prior estimate of ($2.54). Cantor Fitzgerald currently has a “Overweight” rating and a $14.00 target price on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.56) per share.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12). CVRx had a negative return on equity of 88.85% and a negative net margin of 123.75%. The business had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. During the same quarter last year, the firm posted ($0.43) earnings per share.

Other research analysts have also recently issued research reports about the company. Lake Street Capital upped their price target on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum decreased their price target on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Piper Sandler restated an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a report on Wednesday. Finally, Canaccord Genuity Group raised their target price on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

CVRx Stock Up 2.1 %

CVRX stock opened at $13.40 on Friday. The firm has a market cap of $291.99 million, a PE ratio of -4.96 and a beta of 1.26. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13. 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 has a 50 day simple moving average of $9.15 and a 200 day simple moving average of $9.58.

Insider Buying and Selling

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of the stock in a transaction on Monday, August 5th. The shares were bought at an average price of $8.36 per share, with a total value of $250,800.00. Following the purchase, the chief executive officer now directly owns 30,000 shares in the company, valued at $250,800. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders acquired 38,500 shares of company stock valued at $322,545. Corporate insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in CVRx in the 3rd quarter worth approximately $108,000. Rhumbline Advisers raised its holdings in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after acquiring an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in CVRx during the second quarter valued at $218,000. International Assets Investment Management LLC acquired a new stake in CVRx during the third quarter valued at $338,000. Finally, FourWorld Capital Management LLC purchased a new position in CVRx in the first quarter valued at about $374,000. 75.27% of the stock is owned by hedge funds and other 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.