William Blair Analysts Raise Earnings Estimates for CVRx, Inc. (NASDAQ:CVRX)

CVRx, Inc. (NASDAQ:CVRX) – Research analysts at William Blair raised their Q3 2024 earnings per share estimates for CVRx in a note issued to investors on Tuesday, July 30th. William Blair analyst M. Kaczor now expects that the company will earn ($0.47) per share for the quarter, up from their previous estimate of ($0.50). William Blair has a “Market Perform” rating on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.57) per share. William Blair also issued estimates for CVRx’s Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.50) EPS, Q2 2025 earnings at ($0.57) EPS, Q3 2025 earnings at ($0.45) EPS, Q4 2025 earnings at ($0.45) EPS and FY2025 earnings at ($1.97) EPS.

A number of other research analysts have also recently weighed in on the company. Canaccord Genuity Group raised their price target on CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler decreased their price objective on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered CVRx from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $13.00 in a research note on Wednesday, May 1st. Lake Street Capital decreased their price objective on CVRx from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Craig Hallum decreased their price target on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

CVRx Trading Down 0.8 %

NASDAQ:CVRX opened at $8.23 on Thursday. The stock has a fifty day moving average price of $9.68 and a two-hundred day moving average price of $15.40. The stock has a market capitalization of $177.77 million, a price-to-earnings ratio of -3.33 and a beta of 1.26. 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 has a 1 year low of $6.40 and a 1 year high of $33.13.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). The business had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $11.84 million. CVRx had a negative return on equity of 72.51% and a negative net margin of 122.52%. During the same quarter in the previous year, the company posted ($0.56) EPS.

Hedge Funds Weigh In On CVRx

Several hedge funds and other institutional investors have recently modified their holdings of CVRX. Johnson & Johnson lifted its stake in shares of CVRx by 17.4% in the 1st quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock valued at $74,723,000 after purchasing an additional 607,855 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of CVRx by 70.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after buying an additional 105,198 shares during the period. Vanguard Group Inc. raised its holdings in shares of CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after buying an additional 31,720 shares during the period. FourWorld Capital Management LLC purchased a new stake in shares of CVRx during the 1st quarter valued at about $374,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of CVRx during the 1st quarter valued at about $346,000. 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.