Brokerages Set CVRx, Inc. (NASDAQ:CVRX) PT at $15.83

Shares of CVRx, Inc. (NASDAQ:CVRX) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $15.83.

A number of analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd. Craig Hallum raised their target price on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group boosted their price target on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Lake Street Capital raised their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th.

CVRx Price Performance

NASDAQ:CVRX opened at $14.85 on Friday. The company has a market capitalization of $360.26 million, a P/E ratio of -5.50 and a beta of 1.16. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13. The stock’s fifty day moving average is $10.90 and its two-hundred day moving average is $9.73.

CVRx (NASDAQ:CVRX) last posted its earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The company 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 period in the previous year, the company earned ($0.43) EPS. Equities analysts expect that CVRx will post -2.62 EPS for the current year.

Hedge Funds Weigh In On CVRx

Several hedge funds and other institutional investors have recently made changes to their positions in CVRX. Vanguard Group Inc. increased its stake in shares of CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after buying an additional 31,720 shares during the period. Silvercrest Asset Management Group LLC increased its position in shares of CVRx by 70.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after purchasing an additional 105,198 shares during the last quarter. FourWorld Capital Management LLC acquired a new stake in shares of CVRx in the 1st quarter valued at $374,000. Bank of New York Mellon Corp lifted its position in shares of CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after purchasing an additional 8,741 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.