CVRx (NASDAQ:CVRX) Announces Earnings Results

CVRx (NASDAQ:CVRX) released its quarterly earnings data on Tuesday. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06), Zacks reports. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%.

CVRx Price Performance

Shares of CVRX stock traded up $0.79 during trading hours on Tuesday, reaching $16.25. 268,521 shares of the company were exchanged, compared to its average volume of 262,124. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23. The company has a market cap of $394.23 million, a price-to-earnings ratio of -6.02 and a beta of 1.29. The stock’s fifty day moving average is $14.69 and its two-hundred day moving average is $11.66. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $25.04.

Analyst Ratings Changes

Several research firms have recently weighed in on CVRX. Craig Hallum upped their target price on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. William Blair upgraded shares of CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their price target on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, CVRx presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

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.