CVRx (NASDAQ:CVRX) Price Target Cut to $15.00

CVRx (NASDAQ:CVRX) had its price objective decreased by Craig Hallum from $23.00 to $15.00 in a report issued on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other brokerages have also recently commented on CVRX. JPMorgan Chase & Co. cut shares of CVRx from an overweight rating to a neutral rating and dropped their price objective for the stock from $36.00 to $13.00 in a research note on Wednesday, May 1st. Lake Street Capital dropped their price target on CVRx from $18.00 to $12.00 and set a buy rating for the company in a research report on Thursday. Piper Sandler decreased their price objective on CVRx from $33.00 to $15.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. William Blair cut CVRx from an outperform rating to a market perform rating in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group decreased their price target on CVRx from $32.00 to $14.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, CVRx currently has an average rating of Moderate Buy and a consensus target price of $13.80.

CVRx Stock Performance

NASDAQ:CVRX opened at $9.72 on Thursday. The stock has a 50-day moving average price of $9.28 and a 200 day moving average price of $17.34. The stock has a market capitalization of $209.95 million, a P/E ratio of -3.94 and a beta of 1.27. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The company has a current ratio of 12.18, a quick ratio of 10.87 and a debt-to-equity ratio of 0.44.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.51). The company had revenue of $10.77 million for the quarter, compared to analysts’ expectations of $11.60 million. CVRx had a negative net margin of 123.58% and a negative return on equity of 66.05%. Equities research analysts forecast that CVRx will post -2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On CVRx

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. purchased a new stake in shares of CVRx in the fourth quarter valued at approximately $102,000. Jump Financial LLC purchased a new stake in CVRx during the 4th quarter valued at about $499,000. Level Four Advisory Services LLC increased its holdings in shares of CVRx by 6.8% in the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after purchasing an additional 1,844 shares during the period. Trexquant Investment LP purchased a new position in shares of CVRx in the fourth quarter worth about $426,000. Finally, Parkman Healthcare Partners LLC boosted its holdings in CVRx by 8.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after purchasing an additional 17,880 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

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.