CVRx (NASDAQ:CVRX) Releases Earnings Results

CVRx (NASDAQ:CVRX) posted its earnings results on Monday. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14), Yahoo Finance reports. The company had revenue of $11.81 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted ($0.56) EPS. CVRx updated its Q3 2024 guidance to EPS.

CVRx Trading Down 14.5 %

CVRx stock opened at $7.93 on Wednesday. The firm’s fifty day moving average price is $9.65 and its 200-day moving average price is $15.63. 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 fifty-two week low of $6.40 and a fifty-two week high of $33.13.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVRX. Canaccord Genuity Group boosted 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. Craig Hallum reduced their price objective on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. William Blair lowered shares of CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Lake Street Capital dropped their target price on shares of CVRx from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered shares of CVRx from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $13.00 in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

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.