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

Key Points

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CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $14.00.

Several equities analysts have commented on CVRX shares. William Blair upgraded shares of CVRx to a "strong-buy" rating in a research note on Monday, July 7th. Cantor Fitzgerald restated an "overweight" rating and set a $11.00 target price on shares of CVRx in a research report on Tuesday, August 5th. Piper Sandler lowered their target price on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. 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 research report on Friday, May 9th.

Institutional Investors Weigh In On CVRx

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of CVRx by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock worth $49,000 after buying an additional 1,186 shares during the last quarter. Cresset Asset Management LLC raised its stake in CVRx by 3.5% in the 2nd quarter. Cresset Asset Management LLC now owns 53,542 shares of the company's stock valued at $315,000 after purchasing an additional 1,823 shares during the last quarter. Rhumbline Advisers raised its stake in CVRx by 13.0% in the 1st quarter. Rhumbline Advisers now owns 19,018 shares of the company's stock valued at $233,000 after purchasing an additional 2,192 shares during the last quarter. Larson Financial Group LLC acquired a new position in CVRx in the 1st quarter valued at about $28,000. Finally, Barclays PLC increased its stake in shares of CVRx by 12.1% during the 4th quarter. Barclays PLC now owns 21,378 shares of the company's stock valued at $270,000 after acquiring an additional 2,311 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Stock Down 2.3%

Shares of CVRX opened at $6.87 on Tuesday. The company's 50-day simple moving average is $6.99 and its 200-day simple moving average is $8.82. The stock has a market capitalization of $179.65 million, a PE ratio of -3.27 and a beta of 1.27. CVRx has a 1 year low of $4.30 and a 1 year high of $18.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 10.78 and a current ratio of 11.99.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). The firm had revenue of $13.59 million during the quarter, compared to analyst estimates of $13.22 million. CVRx had a negative net margin of 95.61% and a negative return on equity of 79.31%. Analysts forecast that CVRx will post -1.91 earnings per share for the current fiscal year.

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.

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