CVRx, Inc. (NASDAQ:CVRX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.83.

Several research firms recently weighed in on CVRX. Craig Hallum boosted their price objective 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. Canaccord Genuity Group dropped their target price on CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Piper Sandler boosted their price objective on CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Lake Street Capital reduced their target price on shares of CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th.

Institutional Investors Weigh In On CVRx

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in CVRx by 10,520.1% during the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock worth $7,960,000 after buying an additional 622,370 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of CVRx in the fourth quarter worth about $4,713,000. Parkman Healthcare Partners LLC raised its position in shares of CVRx by 34.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 921,174 shares of the company’s stock worth $11,671,000 after purchasing an additional 238,277 shares during the period. Emerald Advisers LLC grew its position in shares of CVRx by 47.3% in the 4th quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock valued at $7,525,000 after purchasing an additional 190,844 shares during the period. Finally, Norges Bank bought a new stake in CVRx during the 4th quarter worth approximately $1,411,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

CVRx Price Performance

CVRx stock opened at $6.31 on Wednesday. CVRx has a 52 week low of $5.87 and a 52 week high of $18.55. The firm has a market cap of $164.29 million, a P/E ratio of -2.35 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06. The business’s fifty day moving average is $11.86 and its two-hundred day moving average is $12.83.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. Equities research analysts forecast that CVRx will post -1.91 earnings per share for the current fiscal 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.