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

Shares of CVRx, Inc. (NASDAQ:CVRX) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.80.

Several equities research analysts have issued reports on CVRX shares. Piper Sandler dropped their target price on shares of CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $13.00 in a report on Wednesday, May 1st. William Blair cut CVRx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Canaccord Genuity Group dropped their price target on CVRx from $32.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Craig Hallum cut their price objective on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th.

Hedge Funds Weigh In On CVRx

Large investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. bought a new position in shares of CVRx during the fourth quarter valued at about $102,000. Jump Financial LLC purchased a new position in CVRx in the 4th quarter worth approximately $499,000. Level Four Advisory Services LLC lifted its position in CVRx by 6.8% in the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after purchasing an additional 1,844 shares during the last quarter. Trexquant Investment LP bought a new stake in CVRx in the fourth quarter valued at approximately $426,000. Finally, Parkman Healthcare Partners LLC boosted its stake in shares of CVRx by 8.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after purchasing an additional 17,880 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Trading Down 1.6 %

CVRx stock opened at $9.36 on Monday. The stock has a market cap of $202.18 million, a P/E ratio of -3.79 and a beta of 1.27. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $33.13. The firm’s fifty day moving average price is $9.47 and its 200-day moving average price is $16.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18.

CVRx (NASDAQ:CVRX) last announced its earnings results on Tuesday, April 30th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.51). The business had revenue of $10.77 million during the quarter, compared to the consensus estimate of $11.60 million. CVRx had a negative return on equity of 66.05% and a negative net margin of 123.58%. Equities research analysts forecast that CVRx will post -2.39 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.