CVRx, Inc. (NASDAQ:CVRX) Receives $16.67 Consensus Price Target from Analysts

CVRx, Inc. (NASDAQ:CVRX) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.67.

CVRX has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd. Canaccord Genuity Group lifted their price objective on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 9th. Lake Street Capital lifted their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Craig Hallum lifted their price objective on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective (up from $13.00) on shares of CVRx in a report on Wednesday, October 30th.

CVRx Trading Up 4.3 %

CVRX opened at $13.38 on Thursday. CVRx has a 1-year low of $6.40 and a 1-year high of $33.13. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. The company has a market cap of $324.65 million, a P/E ratio of -4.96 and a beta of 1.20. The company has a fifty day moving average price of $12.70 and a two-hundred day moving average price of $10.49.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results 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). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. The company had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. During the same period last year, the firm posted ($0.43) earnings per share. Analysts predict that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PDT Partners LLC purchased a new position in CVRx during the third quarter worth about $543,000. International Assets Investment Management LLC purchased a new position in CVRx in the third quarter valued at about $338,000. Vanguard Group Inc. boosted its stake in CVRx by 5.6% in the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after acquiring an additional 31,720 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CVRx by 30.7% in the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after acquiring an additional 8,741 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in CVRx in the second quarter valued at about $218,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Company Profile

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.