CVRx (NASDAQ:CVRX) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of CVRx (NASDAQ:CVRX) in a research note published on Wednesday, Benzinga reports. The firm currently has a $14.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the company. Piper Sandler lowered their price target on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Canaccord Genuity Group upped their price objective on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Craig Hallum reduced their price objective on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of CVRx in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.67.

CVRx Trading Up 0.2 %

NASDAQ CVRX opened at $10.17 on Wednesday. The stock has a 50-day simple moving average of $8.64 and a 200 day simple moving average of $9.83. The company has a market capitalization of $219.63 million, a PE ratio of -4.06 and a beta of 1.26. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The business had revenue of $11.81 million during the quarter, compared to the consensus estimate of $11.84 million. During the same quarter last year, the company earned ($0.56) earnings per share. Research analysts forecast that CVRx will post -2.56 EPS for the current year.

Insider Activity at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of CVRx stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $8.36 per share, with a total value of $250,800.00. Following the completion of the transaction, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $250,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 38,500 shares of company stock valued at $322,545. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVRX. International Assets Investment Management LLC bought a new stake in CVRx in the third quarter valued at approximately $338,000. SG Americas Securities LLC bought a new stake in CVRx in the third quarter valued at approximately $108,000. Squarepoint Ops LLC raised its stake in CVRx by 26.3% in the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock valued at $1,103,000 after buying an additional 19,165 shares during the period. Marshall Wace LLP bought a new stake in CVRx in the second quarter valued at approximately $495,000. Finally, Dimensional Fund Advisors LP bought a new stake in CVRx in the second quarter valued at approximately $218,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.