CVRx, Inc. (NASDAQ:CVRX) Receives $14.50 Consensus Price Target from Analysts

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.50.

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

Insider Buying and Selling at CVRx

In other CVRx news, Director Kirk G. Nielsen bought 10,966 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $5.45 per share, with a total value of $59,764.70. Following the completion of the transaction, the director now directly owns 1,910,134 shares in the company, valued at approximately $10,410,230.30. The trade was a 0.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders purchased 78,666 shares of company stock valued at $411,031. Corporate insiders own 13.90% of the company's stock.

Institutional Investors Weigh In On CVRx

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in shares of CVRx by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock worth $49,000 after acquiring an additional 1,186 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CVRx by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company's stock worth $385,000 after acquiring an additional 1,296 shares in the last quarter. Rhumbline Advisers grew its position in CVRx by 13.0% in the 1st quarter. Rhumbline Advisers now owns 19,018 shares of the company's stock worth $233,000 after purchasing an additional 2,192 shares in the last quarter. Larson Financial Group LLC bought a new stake in CVRx in the 1st quarter worth about $28,000. Finally, Barclays PLC grew its position in CVRx by 12.1% in the 4th quarter. Barclays PLC now owns 21,378 shares of the company's stock worth $270,000 after purchasing an additional 2,311 shares in the last quarter. 75.27% of the stock is owned by institutional investors.

CVRx Price Performance

CVRx stock traded up $0.10 during mid-day trading on Thursday, reaching $6.56. The company had a trading volume of 173,573 shares, compared to its average volume of 327,621. CVRx has a fifty-two week low of $4.30 and a fifty-two week high of $18.55. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. The company has a market cap of $171.04 million, a P/E ratio of -2.44 and a beta of 1.30. The business has a fifty day simple moving average of $7.04 and a 200 day simple moving average of $11.57.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.03. The company had revenue of $12.35 million for the quarter, compared to analyst estimates of $14.68 million. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. On average, equities research analysts predict 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.