CVRx, Inc. (NASDAQ:CVRX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Six analysts give CVRx an average rating of "Moderate Buy" (2 sell, 2 buy, 2 strong buy) with a 1‑year average price target of $10.50.
• Recent results and outlook: CVRx missed Q results (reported ($0.46) EPS vs. ($0.42) est.) with $16.02M revenue, remains unprofitable (negative ROE/net margin) and analysts expect ~-1.91 EPS for the year.
• Ownership activity: Director Mudit K. Jain bought 46,800 shares at $6.36, raising his stake to ~980,183 shares; insiders own 13.9% and institutional investors own 75.27% of the company.

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has earned an average rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $10.50.

A number of equities analysts have recently commented on the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $10.00 target price on shares of CVRx in a report on Tuesday, April 14th. Cantor Fitzgerald upgraded CVRx to a "strong-buy" rating in a report on Tuesday, February 17th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of CVRx in a report on Monday, December 29th.

CVRx Price Performance

Shares of CVRx stock opened at $7.72 on Friday. The stock has a market cap of $204.04 million, a price-to-earnings ratio of -3.77 and a beta of 1.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.72 and a current ratio of 7.63. The stock has a 50 day moving average price of $7.82 and a 200-day moving average price of $8.15. CVRx has a one year low of $4.30 and a one year high of $11.30.

CVRx (NASDAQ:CVRX - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). The company had revenue of $16.02 million during the quarter, compared to analysts' expectations of $15.75 million. CVRx had a negative return on equity of 99.32% and a negative net margin of 94.10%. Equities analysts expect that CVRx will post -1.91 EPS for the current year.

Insider Activity

In related news, Director Mudit K. Jain bought 46,800 shares of the stock in a transaction dated Friday, February 20th. The stock was purchased at an average cost of $6.36 per share, with a total value of $297,648.00. Following the completion of the purchase, the director owned 980,183 shares of the company's stock, valued at $6,233,963.88. This trade represents a 5.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.90% of the company's stock.

Institutional Investors Weigh In On CVRx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its stake in CVRx by 10.7% in the 3rd quarter. Alliancebernstein L.P. now owns 17,560 shares of the company's stock worth $142,000 after acquiring an additional 1,700 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of CVRx during the fourth quarter valued at approximately $90,000. Corient Private Wealth LLC purchased a new stake in shares of CVRx in the fourth quarter valued at approximately $81,000. Virtu Financial LLC purchased a new stake in shares of CVRx in the fourth quarter valued at approximately $79,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of CVRx in the first quarter valued at approximately $101,000. Institutional investors own 75.27% of the company's stock.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company's flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body's natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.

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