CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $13.60.

A number of research analysts recently commented on CVRX shares. Craig Hallum lowered their price target on shares of CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Lake Street Capital reiterated a “buy” rating and set a $12.00 price objective on shares of CVRx in a research report on Monday, August 26th. Canaccord Genuity Group increased their target price on shares of CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler reduced their price objective on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th.

Insider Activity

In related news, CEO Kevin Hykes purchased 30,000 shares of CVRx stock in a transaction that occurred 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 of the company’s stock, valued at approximately $250,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders purchased 38,500 shares of company stock valued at $322,545. 18.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CVRX. Federated Hermes Inc. purchased a new stake in shares of CVRx in the 4th quarter worth $102,000. Rhumbline Advisers raised its holdings in shares of CVRx by 28.8% in the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after acquiring an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in CVRx in the second quarter worth about $218,000. Valeo Financial Advisors LLC bought a new position in CVRx during the 1st quarter worth about $346,000. Finally, FourWorld Capital Management LLC purchased a new position in CVRx during the 1st quarter valued at about $374,000. Institutional investors own 75.27% of the company’s stock.

CVRx Stock Performance

NASDAQ:CVRX opened at $8.42 on Tuesday. 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 company has a market cap of $181.84 million, a price-to-earnings ratio of -3.41 and a beta of 1.27. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13. The stock’s 50 day simple moving average is $9.36 and its two-hundred day simple moving average is $12.46.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. The business had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $11.84 million. During the same period in the previous year, the company earned ($0.56) EPS. As a group, equities analysts anticipate that CVRx will post -2.57 earnings per share for the current fiscal year.

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.