CVRx (NASDAQ:CVRX) Upgraded to “Strong-Buy” at William Blair

William Blair upgraded shares of CVRx (NASDAQ:CVRX) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other analysts also recently issued reports on CVRX. Lake Street Capital reduced their price target on CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Piper Sandler cut their price target on CVRx from $20.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $7.00 target price (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th. Finally, Canaccord Genuity Group decreased their target price on CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CVRx has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

CVRx Price Performance

Shares of CVRX opened at $6.75 on Monday. The stock’s 50 day moving average is $6.41 and its two-hundred day moving average is $10.39. CVRx has a twelve month low of $4.30 and a twelve month high of $18.55. The company has a current ratio of 14.82, a quick ratio of 13.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $175.97 million, a PE ratio of -3.10 and a beta of 1.23.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.03. CVRx had a negative net margin of 97.49% and a negative return on equity of 79.04%. The business had revenue of $12.35 million during the quarter, compared to analyst estimates of $14.68 million. Research analysts anticipate that CVRx will post -1.91 earnings per share for the current year.

Insider Buying and Selling at CVRx

In other news, Director Kirk G. Nielsen acquired 10,966 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $5.45 per share, for a total transaction of $59,764.70. Following the completion of the transaction, the director owned 1,910,134 shares in the company, valued at approximately $10,410,230.30. The trade was a 0.58% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 78,666 shares of company stock worth $411,031 over the last 90 days. 18.90% of the stock is owned by insiders.

Institutional Trading of CVRx

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of CVRx by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company’s stock worth $385,000 after purchasing an additional 1,296 shares during the period. Emerald Advisers LLC raised its stake in CVRx by 47.3% during the 4th quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock worth $7,525,000 after acquiring an additional 190,844 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CVRx by 10,520.1% during the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock worth $7,960,000 after acquiring an additional 622,370 shares in the last quarter. Norges Bank acquired a new position in CVRx in the fourth quarter valued at $1,411,000. Finally, Tradewinds LLC. acquired a new position in CVRx in the fourth quarter valued at $695,000. Institutional investors and hedge funds own 75.27% 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.