CVRx, Inc. $CVRX Stock Position Lowered by Johnson & Johnson

Johnson & Johnson trimmed its holdings in CVRx, Inc. (NASDAQ:CVRX) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,024,861 shares of the company’s stock after selling 78,569 shares during the period. CVRx makes up about 5.1% of Johnson & Johnson’s holdings, making the stock its 5th largest holding. Johnson & Johnson owned approximately 15.30% of CVRx worth $28,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GSK plc acquired a new position in shares of CVRx in the 4th quarter valued at $7,154,000. Balyasny Asset Management L.P. grew its holdings in shares of CVRx by 65.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock worth $3,967,000 after purchasing an additional 267,063 shares during the period. Marshall Wace LLP increased its position in shares of CVRx by 238.1% during the 2nd quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock worth $2,058,000 after purchasing an additional 246,548 shares during the last quarter. Jane Street Group LLC increased its position in shares of CVRx by 162.9% during the 4th quarter. Jane Street Group LLC now owns 225,349 shares of the company’s stock worth $1,600,000 after purchasing an additional 139,643 shares during the last quarter. Finally, FourWorld Capital Management LLC raised its holdings in CVRx by 563.7% in the 2nd quarter. FourWorld Capital Management LLC now owns 124,123 shares of the company’s stock valued at $730,000 after buying an additional 105,422 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Stock Performance

Shares of CVRx stock opened at $9.46 on Wednesday. The stock has a market capitalization of $248.89 million, a price-to-earnings ratio of -4.61 and a beta of 1.28. The company has a debt-to-equity ratio of 1.26, a current ratio of 7.63 and a quick ratio of 6.72. The business has a 50-day moving average of $7.36 and a 200 day moving average of $8.12. CVRx, Inc. has a 12 month low of $4.30 and a 12 month high of $13.15.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). CVRx had a negative return on equity of 99.32% and a negative net margin of 94.10%.The business had revenue of $16.02 million for the quarter, compared to analysts’ expectations of $15.75 million. As a group, sell-side analysts forecast that CVRx, Inc. will post -1.91 earnings per share for the current year.

Insider Transactions at CVRx

In other CVRx news, Director Mudit K. Jain purchased 46,800 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was bought at an average price of $6.36 per share, with a total value of $297,648.00. Following the transaction, the director directly owned 980,183 shares of the company’s stock, valued at approximately $6,233,963.88. This represents a 5.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Cantor Fitzgerald raised shares of CVRx to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVRx in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, CVRx has an average rating of “Moderate Buy” and a consensus target price of $11.20.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.