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

CVRx, Inc. (NASDAQ:CVRX) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.83.

A number of equities analysts have recently commented on the stock. Craig Hallum raised their target price on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Piper Sandler upped their target price on CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group boosted their price target on CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th.

CVRx Price Performance

CVRX stock opened at $12.49 on Friday. The stock has a 50-day moving average price of $14.03 and a two-hundred day moving average price of $12.78. The company has a market cap of $325.19 million, a PE ratio of -4.64 and a beta of 1.34. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. CVRx has a 12-month low of $6.40 and a 12-month high of $19.24.

CVRx (NASDAQ:CVRX) last posted its earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share (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%. As a group, research analysts predict that CVRx will post -1.91 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CVRX. Tower Research Capital LLC TRC increased its holdings in CVRx by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after purchasing an additional 1,186 shares during the last quarter. Quarry LP acquired a new stake in shares of CVRx during the fourth quarter worth approximately $69,000. MetLife Investment Management LLC bought a new stake in shares of CVRx in the fourth quarter worth $111,000. Wells Fargo & Company MN raised its holdings in CVRx by 86.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock valued at $113,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in CVRx during the 4th quarter valued at $127,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.