CVRx (NASDAQ:CVRX) Rating Increased to Outperform at William Blair

William Blair upgraded shares of CVRx (NASDAQ:CVRX) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports.

Several other equities research analysts have also recently issued reports on CVRX. Piper Sandler reissued an “overweight” rating and set a $16.00 target price (up previously from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Craig Hallum raised their price objective on CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Lake Street Capital boosted their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group boosted their price target on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

CVRx Trading Up 7.4 %

Shares of CVRX stock opened at $16.15 on Tuesday. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. CVRx has a twelve month low of $6.40 and a twelve month high of $29.23. The company’s 50-day moving average price is $14.01 and its 200-day moving average price is $11.00. The stock has a market cap of $391.86 million, a price-to-earnings ratio of -5.98 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last posted its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The firm 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 89.06%. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. As a group, equities analysts predict that CVRx will post -2.62 earnings per share for the current year.

Hedge Funds Weigh In On CVRx

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of CVRx by 30.7% in the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after purchasing an additional 8,741 shares during the period. Rhumbline Advisers lifted its holdings in CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after buying an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in CVRx during the 2nd quarter worth approximately $218,000. Marshall Wace LLP purchased a new position in CVRx in the 2nd quarter valued at approximately $495,000. Finally, Squarepoint Ops LLC grew its stake in shares of CVRx by 26.3% in the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock worth $1,103,000 after acquiring an additional 19,165 shares in the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

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.