CVRx, Inc. (NASDAQ:CVRX) Forecasted to Post FY2024 Earnings of ($2.54) Per Share

CVRx, Inc. (NASDAQ:CVRX) – Investment analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for CVRx in a research report issued to clients and investors on Tuesday, September 10th. Cantor Fitzgerald analyst R. Osborn forecasts that the company will earn ($2.54) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $14.00 price objective on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.57) per share.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data 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). The company had revenue of $11.81 million for the quarter, compared to analyst estimates of $11.84 million. CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. During the same quarter in the prior year, the firm earned ($0.56) earnings per share.

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

CVRx Stock Performance

NASDAQ CVRX opened at $8.11 on Thursday. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $33.13. The business has a fifty day moving average of $9.13 and a 200-day moving average of $12.17. The stock has a market cap of $175.14 million, a price-to-earnings ratio of -3.28 and a beta of 1.27.

Institutional Trading of CVRx

A number of hedge funds have recently made changes to their positions in CVRX. Jump Financial LLC acquired a new position in CVRx in the 4th quarter worth $499,000. Level Four Advisory Services LLC boosted its holdings in 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 last quarter. Trexquant Investment LP acquired a new stake in CVRx during the 4th quarter valued at approximately $426,000. Parkman Healthcare Partners LLC increased its holdings in CVRx by 8.0% during the 4th quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock worth $7,546,000 after purchasing an additional 17,880 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in shares of CVRx in the 1st quarter valued at approximately $346,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Insider Activity

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $8.36 per share, with a total value of $250,800.00. Following the purchase, the chief executive officer now owns 30,000 shares in the company, valued at approximately $250,800. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 38,500 shares of company stock valued at $322,545 in the last three months. Corporate 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.