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

Shares of CVRx, Inc. (NASDAQ:CVRX) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $13.1667.

Several brokerages recently commented on CVRX. Cantor Fitzgerald increased their price objective on shares of CVRx from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Finally, Canaccord Genuity Group boosted their price objective on shares of CVRx from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, November 6th.

CVRx Stock Performance

CVRx stock opened at $5.47 on Friday. CVRx has a twelve month low of $4.30 and a twelve month high of $18.55. The company has a quick ratio of 8.60, a current ratio of 9.62 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $143.37 million, a P/E ratio of -2.71 and a beta of 1.31. The stock’s 50 day moving average is $8.42 and its 200 day moving average is $8.21.

CVRx (NASDAQ:CVRX) last released its earnings results on Wednesday, November 5th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. CVRx had a negative return on equity of 84.45% and a negative net margin of 92.95%.The business had revenue of $14.69 million for the quarter, compared to the consensus estimate of $14.16 million. On average, equities research analysts predict that CVRx will post -1.91 earnings per share for the current fiscal year.

Insider Buying and Selling at CVRx

In other news, major shareholder & Johnson Johnson sold 52,332 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $10.21, for a total transaction of $534,309.72. Following the transaction, the insider directly owned 4,051,098 shares of the company’s stock, valued at $41,361,710.58. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 56,232 shares of company stock valued at $573,442 in the last three months. 13.90% of the stock is owned by insiders.

Hedge Funds Weigh In On CVRx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in CVRx by 1.2% during the third quarter. Vanguard Group Inc. now owns 1,090,226 shares of the company’s stock valued at $8,798,000 after purchasing an additional 12,948 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of CVRx by 65.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock worth $3,967,000 after buying an additional 267,063 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CVRx by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 382,437 shares of the company’s stock worth $2,249,000 after buying an additional 23,079 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of CVRx by 238.1% in the second quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock worth $2,058,000 after acquiring an additional 246,548 shares during the period. Finally, Bank of America Corp DE increased its position in CVRx by 102.6% during the third quarter. Bank of America Corp DE now owns 180,425 shares of the company’s stock valued at $1,456,000 after acquiring an additional 91,376 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.