CVRx, Inc. (NASDAQ:CVRX) Receives $14.50 Consensus Target Price from Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.50.

CVRX has been the topic of several analyst reports. Lake Street Capital dropped their target price on shares of CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Piper Sandler dropped their target price on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group dropped their target price on shares of CVRx from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $7.00 target price (down previously from $15.00) on shares of CVRx in a research note on Friday, May 9th.

CVRx Trading Up 2.4%

Shares of CVRX opened at $6.34 on Friday. The firm’s 50-day moving average price is $8.68 and its 200-day moving average price is $12.41. The firm has a market capitalization of $165.30 million, a price-to-earnings ratio of -2.36 and a beta of 1.39. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. CVRx has a 1-year low of $4.30 and a 1-year high of $18.55.

CVRx (NASDAQ:CVRX) last announced its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. The firm had revenue of $12.35 million for the quarter, compared to analyst estimates of $14.68 million. Sell-side analysts anticipate that CVRx will post -1.91 EPS for the current year.

Insider Activity at CVRx

In related news, Director Kirk G. Nielsen bought 61,200 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average cost of $5.23 per share, for a total transaction of $320,076.00. Following the completion of the transaction, the director now owns 1,899,168 shares of the company’s stock, valued at approximately $9,932,648.64. This trade represents a 3.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have purchased 67,700 shares of company stock worth $351,266. Corporate insiders own 13.90% of the company’s stock.

Institutional Trading of CVRx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parkman Healthcare Partners LLC increased its stake in shares of CVRx by 33.5% in the first quarter. Parkman Healthcare Partners LLC now owns 1,229,522 shares of the company’s stock worth $15,037,000 after purchasing an additional 308,348 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of CVRx by 10,520.1% in the fourth quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock worth $7,960,000 after purchasing an additional 622,370 shares in the last quarter. Emerald Advisers LLC increased its stake in shares of CVRx by 47.3% in the fourth quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock worth $7,525,000 after purchasing an additional 190,844 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of CVRx in the first quarter worth $4,852,000. Finally, Silvercrest Asset Management Group LLC purchased a new stake in shares of CVRx in the fourth quarter worth $4,713,000. 75.27% of the stock is 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.