CVRx (NASDAQ:CVRX) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of CVRx (NASDAQ:CVRX) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “CVRx Inc. is a commercial-stage medical device company. It focused on developing, manufacturing and commercializing neuromodulation solutions for patients with cardiovascular diseases. CVRx Inc. is headquartered in Minneapolis, MN. “

Shares of NASDAQ:CVRX opened at $9.47 on Tuesday. CVRx has a 12 month low of $8.88 and a 12 month high of $29.00. The company has a current ratio of 20.42, a quick ratio of 20.03 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $12.59.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Thursday, November 4th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. The company had revenue of $3.40 million for the quarter, compared to analyst estimates of $3.42 million. Research analysts predict that CVRx will post -4.01 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CVRX. Johnson & Johnson bought a new position in CVRx in the third quarter valued at $57,817,000. VR Adviser LLC bought a new position in CVRx in the second quarter valued at $17,734,000. Price T Rowe Associates Inc. MD bought a new position in CVRx in the second quarter valued at $16,800,000. Perceptive Advisors LLC bought a new position in CVRx in the second quarter valued at $12,320,000. Finally, Wells Fargo & Company MN bought a new position in CVRx in the second quarter valued at $10,059,000. Institutional investors and hedge funds own 69.43% of the company’s stock.

About CVRx

CVRx, Inc develops an implantable technology for the treatment of high blood pressure/hypertension and heart failure patients. It offers BAROSTIM NEO, a neuro-modulation therapy that triggers the body's natural reflex to regulate blood pressure and the underlying causes of the progression of heart failure, which is delivered through a long-lasting implant system, and customized to each patient's individual therapy needs.

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