CVRx (NASDAQ:CVRX) Price Target Raised to $17.00

CVRx (NASDAQ:CVRX) had its price objective hoisted by Canaccord Genuity Group from $15.00 to $17.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on CVRX. Lake Street Capital reissued a “buy” rating and set a $12.00 target price on shares of CVRx in a research report on Monday, August 26th. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (up from $13.00) on shares of CVRx in a research report on Wednesday. Craig Hallum lowered their price target on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

CVRx Stock Up 2.1 %

CVRx stock opened at $13.40 on Wednesday. CVRx has a 1-year low of $6.40 and a 1-year high of $33.13. The business has a fifty day moving average price of $9.15 and a 200-day moving average price of $9.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85. The stock has a market capitalization of $291.99 million, a price-to-earnings ratio of -4.96 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.12). CVRx had a negative return on equity of 88.85% and a negative net margin of 123.75%. The business had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. During the same period in the prior year, the business posted ($0.43) EPS. Equities research analysts forecast that CVRx will post -2.56 EPS for the current fiscal year.

Insider Buying and Selling at CVRx

In related news, CEO Kevin Hykes acquired 30,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $8.36 per share, with a total value of $250,800.00. Following the acquisition, the chief executive officer now directly owns 30,000 shares in the company, valued at $250,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have acquired 38,500 shares of company stock valued at $322,545. 18.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of CVRx in the third quarter worth about $108,000. Rhumbline Advisers increased its stake in shares of CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after purchasing an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in CVRx in the 2nd quarter worth about $218,000. International Assets Investment Management LLC purchased a new position in CVRx during the third quarter worth approximately $338,000. Finally, FourWorld Capital Management LLC acquired a new stake in CVRx in the first quarter valued at approximately $374,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.