CVRx (NASDAQ:CVRX) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of CVRx (NASDAQ:CVRX) in a research note published on Tuesday, MarketBeat reports. The brokerage issued an overweight rating and a $14.00 target price on the stock. Cantor Fitzgerald also issued estimates for CVRx’s FY2024 earnings at ($2.54) EPS.

Other equities analysts have also issued reports about the stock. Craig Hallum reduced their price target on shares of CVRx from $23.00 to $15.00 and set a buy rating for the company in a research report on Thursday, July 11th. Piper Sandler dropped their price objective on shares of CVRx from $15.00 to $13.00 and set an overweight rating on the stock in a research note on Tuesday, July 30th. Lake Street Capital reaffirmed a buy rating and set a $12.00 price objective on shares of CVRx in a research note on Monday, August 26th. Finally, Canaccord Genuity Group raised their price objective on shares of CVRx from $14.00 to $15.00 and gave the stock a buy rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $13.67.

CVRx Stock Performance

CVRX opened at $7.85 on Tuesday. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $171.05 million, a PE ratio of -3.18 and a beta of 1.27. The firm has a 50 day moving average of $8.96 and a two-hundred day moving average of $12.04.

CVRx (NASDAQ:CVRX) last posted 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 return on equity of 77.62% and a negative net margin of 122.52%. 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 prior year, the business posted ($0.56) earnings per share. On average, analysts anticipate that CVRx will post -2.56 EPS for the current year.

Insider Activity at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased 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 owns 30,000 shares of the company’s stock, valued at $250,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have purchased 38,500 shares of company stock valued at $322,545. 18.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new position in CVRx in the 4th quarter valued at $426,000. Jump Financial LLC purchased a new position in CVRx in the 4th quarter valued at $499,000. Rhumbline Advisers lifted its holdings in CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after purchasing an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in CVRx in the 2nd quarter valued at $218,000. Finally, Valeo Financial Advisors LLC purchased a new position in CVRx in the 1st quarter valued at $346,000. Hedge funds and other institutional investors 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.