CVRx (NASDAQ:CVRX) Issues Earnings Results

CVRx (NASDAQ:CVRX) announced its earnings results on Monday. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14), Yahoo Finance reports. CVRx had a negative return on equity of 66.05% and a negative net margin of 123.58%. The company had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $11.84 million. During the same quarter last year, the firm posted ($0.56) EPS. CVRx updated its Q3 2024 guidance to EPS.

CVRx Trading Down 17.4 %

CVRX stock traded down $1.61 during mid-day trading on Tuesday, reaching $7.66. The company had a trading volume of 350,730 shares, compared to its average volume of 248,472. The company has a market capitalization of $165.46 million, a PE ratio of -3.16 and a beta of 1.26. The firm has a 50 day moving average of $9.66 and a 200 day moving average of $15.77. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 12.18 and a quick ratio of 10.87.

Analyst Ratings Changes

A number of research firms have weighed in on CVRX. Craig Hallum cut their price objective on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Canaccord Genuity Group upped their price target on shares of CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $13.00 in a research note on Wednesday, May 1st. Lake Street Capital cut their target price on CVRx from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Piper Sandler decreased their price target on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.60.

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.