Lord Abbett & CO. LLC Buys Shares of 396,763 CVRx, Inc. $CVRX

Key Points

• Lord Abbett & CO. LLC acquired a new position in CVRx, purchasing 396,763 shares valued at approximately $4.85 million, representing around 1.52% of the company's equity.
• Analysts have varied perspectives on CVRx, with JPMorgan Chase maintaining an "underweight" rating and a target price adjustment from $15.00 to $7.00, while William Blair upgraded the stock to a "strong-buy" rating.
• CVRx's shares saw a decrease of 2.9% recently, having a one-year range between $4.30 and $18.55, with current trading around $7.03.

Lord Abbett & CO. LLC acquired a new stake in CVRx, Inc. (NASDAQ:CVRX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 396,763 shares of the company's stock, valued at approximately $4,852,000. Lord Abbett & CO. LLC owned approximately 1.52% of CVRx at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parkman Healthcare Partners LLC boosted its holdings in shares of CVRx by 34.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 921,174 shares of the company's stock valued at $11,671,000 after acquiring an additional 238,277 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in CVRx during the fourth quarter valued at approximately $4,713,000. Emerald Mutual Fund Advisers Trust lifted its stake in CVRx by 28.8% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 370,813 shares of the company's stock valued at $4,698,000 after purchasing an additional 82,978 shares during the last quarter. Geode Capital Management LLC lifted its stake in CVRx by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 323,931 shares of the company's stock valued at $4,105,000 after purchasing an additional 28,807 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in CVRx by 4.3% during the fourth quarter. Northern Trust Corp now owns 138,883 shares of the company's stock valued at $1,760,000 after purchasing an additional 5,671 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

CVRx Trading Up 2.3%

Shares of NASDAQ:CVRX traded up $0.1770 during mid-day trading on Friday, hitting $7.7470. The stock had a trading volume of 77,129 shares, compared to its average volume of 323,601. The company has a debt-to-equity ratio of 0.85, a quick ratio of 10.78 and a current ratio of 11.99. The company has a market cap of $202.58 million, a PE ratio of -3.69 and a beta of 1.27. CVRx, Inc. has a 12-month low of $4.30 and a 12-month high of $18.55. The company's 50 day moving average is $7.05 and its 200-day moving average is $8.74.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.57) EPS 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 analysts' expectations of $13.22 million. CVRx had a negative net margin of 95.61% and a negative return on equity of 79.31%. CVRx has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that CVRx, Inc. will post -1.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVRX shares. Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 target price on shares of CVRx in a research note on Tuesday, August 5th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $7.00 target price (down from $15.00) on shares of CVRx in a research note on Friday, May 9th. William Blair raised shares of CVRx to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Piper Sandler cut 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.00.

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.