CVRx (NASDAQ:CVRX) Issues Earnings Results, Misses Expectations By $0.12 EPS

CVRx (NASDAQ:CVRX) posted its quarterly earnings results on Tuesday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12), Zacks reports. The company had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 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 business earned ($0.43) earnings per share. CVRx updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CVRx Stock Performance

Shares of NASDAQ:CVRX traded down $0.89 during mid-day trading on Thursday, reaching $13.18. The company had a trading volume of 205,354 shares, compared to its average volume of 271,147. The company’s 50-day moving average price is $8.96 and its 200-day moving average price is $9.58. CVRx has a one year low of $6.40 and a one year high of $33.13. The firm has a market cap of $287.14 million, a price-to-earnings ratio of -5.21 and a beta of 1.26. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53.

Insider Transactions at CVRx

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders bought 38,500 shares of company stock worth $322,545. 18.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVRX. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (up previously from $13.00) on shares of CVRx in a research report on Wednesday. Canaccord Genuity Group raised their target price on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 target price on shares of CVRx in a report on Wednesday, October 23rd. Craig Hallum dropped their target price on shares of 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 upped their target price on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CVRx currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

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.