CVRx (NASDAQ:CVRX) Announces Quarterly Earnings Results

CVRx (NASDAQ:CVRX) released its quarterly earnings data on Monday. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14), Yahoo Finance reports. CVRx had a negative return on equity of 72.51% and a negative net margin of 122.52%. The company had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $11.84 million. During the same quarter in the prior year, the company posted ($0.56) EPS. CVRx updated its Q3 2024 guidance to EPS.

CVRx Trading Down 8.0 %

Shares of CVRX traded down $0.68 during midday trading on Thursday, reaching $7.87. The company had a trading volume of 278,555 shares, compared to its average volume of 253,887. CVRx has a 1-year low of $6.40 and a 1-year high of $33.13. The stock has a market cap of $169.99 million, a PE ratio of -3.19 and a beta of 1.27. The firm has a 50 day simple moving average of $9.65 and a 200-day simple moving average of $15.58. The company has a quick ratio of 10.87, a current ratio of 12.18 and a debt-to-equity ratio of 0.44.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. William Blair lowered CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Craig Hallum decreased their target price on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Lake Street Capital decreased their target price on CVRx from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. lowered CVRx from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $13.00 in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group raised their price objective on CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, CVRx presently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

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.