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

Key Points

• Analysts give CVRx a consensus recommendation of "Moderate Buy" from seven brokerages (2 sell, 3 buy, 2 strong buy), with an average 1‑year price target of $11.20.
• In its last quarter CVRx reported a ($0.46) EPS miss vs. ($0.42) expected and revenue of $16.02M (slightly above estimates), while carrying a negative net margin of 94.1% and negative ROE of 99.32%; the stock has a market cap of $248.9M and a 12‑month range of $4.30–$13.15.
• Director Mudit K. Jain made an insider purchase of 46,800 shares at $6.36 (raising his stake to 980,183 shares); insiders own 18.9% of the company while institutional investors hold about 75.27%.

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $11.20.

Several analysts have commented on CVRX shares. Canaccord Genuity Group lowered their target price on shares of CVRx from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Cantor Fitzgerald raised CVRx to a "strong-buy" rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CVRx in a research report on Monday, December 29th.

CVRx Price Performance

CVRx stock opened at $9.46 on Wednesday. CVRx has a 12-month low of $4.30 and a 12-month high of $13.15. The stock has a market capitalization of $248.89 million, a P/E ratio of -4.61 and a beta of 1.28. The firm's 50-day moving average is $7.36 and its two-hundred day moving average is $8.12. The company has a debt-to-equity ratio of 1.26, a current ratio of 7.63 and a quick ratio of 6.72.

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

Insider Buying and Selling

In related news, Director Mudit K. Jain acquired 46,800 shares of the company's stock in a transaction dated Friday, February 20th. The stock was bought at an average price of $6.36 per share, with a total value of $297,648.00. Following the purchase, the director directly owned 980,183 shares in the company, valued at $6,233,963.88. The trade was a 5.01% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVRx

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC increased its position in CVRx by 155.6% during the fourth quarter. Larson Financial Group LLC now owns 5,426 shares of the company's stock worth $39,000 after purchasing an additional 3,303 shares during the last quarter. Intech Investment Management LLC purchased a new position in CVRx during the second quarter worth approximately $59,000. R Squared Ltd acquired a new position in shares of CVRx in the 4th quarter valued at $74,000. Virtu Financial LLC acquired a new position in shares of CVRx in the 4th quarter valued at $79,000. Finally, Corient Private Wealth LLC acquired a new position in CVRx in the fourth quarter valued at $81,000. 75.27% of the stock is owned by institutional investors and hedge funds.

CVRx Company Profile

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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