Brokerages Set CVRx, Inc. (NASDAQ:CVRX) Target Price at $14.50

Shares of CVRx, Inc. (NASDAQ:CVRX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.50.

Several brokerages have weighed in on CVRX. 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 price target 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 decreased 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. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $7.00 target price (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th. Finally, William Blair raised CVRx to a "strong-buy" rating in a report on Monday, July 7th.

CVRx Stock Up 1.8%

NASDAQ CVRX traded up $0.15 during trading on Friday, hitting $8.34. The company's stock had a trading volume of 166,898 shares, compared to its average volume of 258,629. The company has a debt-to-equity ratio of 0.71, a current ratio of 14.82 and a quick ratio of 13.45. The company has a market cap of $217.42 million, a PE ratio of -3.83 and a beta of 1.23. The business's 50 day simple moving average is $6.72 and its 200-day simple moving average is $9.93. CVRx has a fifty-two week low of $4.30 and a fifty-two week high of $18.55.

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

Insider Transactions at CVRx

In related news, Director Kirk G. Nielsen purchased 61,200 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $5.23 per share, with a total value of $320,076.00. Following the completion of the acquisition, the director owned 1,899,168 shares of the company's stock, valued at $9,932,648.64. The trade was a 3.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased 78,666 shares of company stock valued at $411,031 over the last three months. Insiders own 13.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CVRX. Bank of New York Mellon Corp raised its stake in shares of CVRx by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company's stock worth $385,000 after buying an additional 1,296 shares during the period. JPMorgan Chase & Co. raised its stake 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 buying an additional 622,370 shares during the period. Norges Bank acquired a new position in shares of CVRx during the 4th quarter worth approximately $1,411,000. Tradewinds LLC. acquired a new position in shares of CVRx during the 4th quarter worth approximately $695,000. Finally, Geode Capital Management LLC raised its stake in shares of CVRx by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 323,931 shares of the company's stock worth $4,105,000 after buying an additional 28,807 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

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.