CVRx, Inc. (NASDAQ:CVRX) Given Average Rating of "Moderate Buy" by Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.50.

A number of equities analysts have recently weighed in on the company. Lake Street Capital lowered their price target on CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Piper Sandler lowered their target price on CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Canaccord Genuity Group lowered their target price on CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $7.00 target price (down from $15.00) on shares of CVRx in a report on Friday, May 9th.

Insider Buying and Selling at CVRx

In related news, Director Kirk G. Nielsen purchased 10,966 shares of CVRx stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $5.45 per share, with a total value of $59,764.70. Following the transaction, the director now directly owns 1,910,134 shares of the company's stock, valued at approximately $10,410,230.30. This trade represents a 0.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 78,666 shares of company stock valued at $411,031 in the last quarter. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On CVRx

A number of hedge funds have recently bought and sold shares of CVRX. JPMorgan Chase & Co. raised its position in shares of 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. Lord Abbett & CO. LLC acquired a new stake in shares of CVRx during the 1st quarter worth about $4,852,000. Silvercrest Asset Management Group LLC acquired a new stake in shares of CVRx during the 4th quarter worth about $4,713,000. Parkman Healthcare Partners LLC raised its position in shares of CVRx by 33.5% during the 1st quarter. Parkman Healthcare Partners LLC now owns 1,229,522 shares of the company's stock worth $15,037,000 after acquiring an additional 308,348 shares in the last quarter. Finally, Emerald Advisers LLC raised its position in shares of 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. Institutional investors and hedge funds own 75.27% of the company's stock.

CVRx Stock Performance

NASDAQ CVRX opened at $5.82 on Monday. The stock has a market cap of $151.73 million, a PE ratio of -2.67 and a beta of 1.30. The company has a current ratio of 14.82, a quick ratio of 13.45 and a debt-to-equity ratio of 0.71. CVRx has a twelve month low of $4.30 and a twelve month high of $18.55. The stock has a fifty day simple moving average of $6.44 and a 200-day simple moving average of $10.68.

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

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.

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