State Street Corp Buys 27,071 Shares of CVRx, Inc. (NASDAQ:CVRX)

State Street Corp increased its stake in shares of CVRx, Inc. (NASDAQ:CVRX) by 11.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 264,733 shares of the company’s stock after acquiring an additional 27,071 shares during the quarter. State Street Corp owned about 1.09% of CVRx worth $2,332,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after purchasing an additional 8,741 shares in the last quarter. Rhumbline Advisers lifted its position in shares of CVRx by 28.8% in the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after buying an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in CVRx during the second quarter valued at approximately $218,000. Marshall Wace LLP purchased a new position in CVRx during the 2nd quarter valued at approximately $495,000. Finally, Squarepoint Ops LLC increased its stake in CVRx by 26.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock worth $1,103,000 after acquiring an additional 19,165 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CVRX. Craig Hallum increased their target price on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of CVRx in a research report on Wednesday, October 23rd. Lake Street Capital increased their price target on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on shares of CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CVRx presently has an average rating of “Moderate Buy” and an average price target of $16.67.

CVRx Stock Down 0.8 %

Shares of CVRX opened at $12.67 on Wednesday. The firm has a fifty day moving average price of $13.59 and a 200-day moving average price of $10.77. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $307.42 million, a P/E ratio of -4.69 and a beta of 1.20. CVRx, Inc. has a 12-month low of $6.40 and a 12-month high of $32.43.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The company had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same quarter in the prior year, the company earned ($0.43) earnings per share. Equities research analysts expect that CVRx, Inc. will post -2.62 earnings per share 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.