CVRx (NASDAQ:CVRX) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

CVRx (NASDAQ:CVRX) announced its quarterly earnings results on Tuesday. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12), Zacks reports. The company had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 88.85%. During the same quarter last year, the company posted ($0.43) EPS. CVRx updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CVRx Price Performance

Shares of CVRX traded up $0.29 during trading hours on Friday, reaching $13.41. The stock had a trading volume of 130,945 shares, compared to its average volume of 271,907. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13. The company’s 50-day moving average is $9.06 and its two-hundred day moving average is $9.61. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08. The stock has a market capitalization of $292.20 million, a PE ratio of -4.88 and a beta of 1.26.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVRX. Canaccord Genuity Group lifted their target price on CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of CVRx in a report on Wednesday, October 23rd. Craig Hallum reduced their price target on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Lake Street Capital upped their target price on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, CVRx has an average rating of “Moderate Buy” and an average price target of $15.00.

Insider Buying and Selling at CVRx

In other news, CEO Kevin Hykes purchased 30,000 shares of CVRx stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at approximately $250,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders bought 38,500 shares of company stock worth $322,545. 18.90% of the stock is currently owned by insiders.

About CVRx

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.