Cantor Fitzgerald Brokers Cut Earnings Estimates for CVRx

CVRx, Inc. (NASDAQ:CVRX) – Investment analysts at Cantor Fitzgerald decreased their FY2024 earnings per share (EPS) estimates for shares of CVRx in a report issued on Wednesday, October 30th. Cantor Fitzgerald analyst R. Osborn now expects that the company will post earnings per share of ($2.59) for the year, down from their previous forecast of ($2.54). Cantor Fitzgerald has a “Overweight” rating and a $14.00 price objective on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.56) per share.

Other research analysts have also recently issued research reports about the company. Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday. Craig Hallum lowered their price objective on 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 raised their price target on CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Lake Street Capital raised their price target on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

CVRx Stock Performance

CVRX stock opened at $13.12 on Friday. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average price is $9.06 and its two-hundred day moving average price is $9.61. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $33.13.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The firm had revenue of $13.37 million for the quarter, compared to the consensus estimate of $13.28 million. CVRx had a negative return on equity of 88.85% and a negative net margin of 123.75%. During the same quarter in the previous year, the business earned ($0.43) EPS.

Institutional Trading of CVRx

Several large investors have recently bought and sold shares of CVRX. SG Americas Securities LLC acquired a new stake in CVRx in the third quarter valued at about $108,000. Rhumbline Advisers boosted its stake in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after purchasing an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of CVRx during the second quarter valued at about $218,000. International Assets Investment Management LLC acquired a new stake in shares of CVRx during the third quarter valued at about $338,000. Finally, FourWorld Capital Management LLC acquired a new stake in shares of CVRx during the first quarter valued at about $374,000. 75.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CVRx news, CEO Kevin Hykes acquired 30,000 shares of CVRx stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $8.36 per share, with a total value of $250,800.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have purchased 38,500 shares of company stock worth $322,545. Company insiders own 18.90% of the company’s stock.

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.