Nuveen Asset Management LLC Trims Stock Position in CVRx, Inc. (NASDAQ:CVRX)

Nuveen Asset Management LLC trimmed its position in CVRx, Inc. (NASDAQ:CVRX - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,399 shares of the company's stock after selling 51,730 shares during the period. Nuveen Asset Management LLC owned 0.65% of CVRx worth $2,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in CVRx by 10,520.1% in the fourth quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company's stock valued at $7,960,000 after purchasing an additional 622,370 shares during the last quarter. Wells Fargo & Company MN raised its holdings in CVRx by 86.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock valued at $113,000 after acquiring an additional 4,115 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in CVRx in the 4th quarter valued at about $455,000. Boothbay Fund Management LLC acquired a new stake in CVRx in the 4th quarter valued at about $127,000. Finally, Barclays PLC increased its holdings in shares of CVRx by 12.1% during the 4th quarter. Barclays PLC now owns 21,378 shares of the company's stock worth $270,000 after buying an additional 2,311 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CVRx

In other news, Director Kirk G. Nielsen purchased 61,200 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $5.23 per share, for a total transaction of $320,076.00. Following the completion of the purchase, the director now directly owns 1,899,168 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 78,666 shares of company stock worth $411,031 over the last ninety days. 13.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Lake Street Capital lowered their price objective on CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Piper Sandler decreased their price target on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $7.00 price objective (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Finally, Canaccord Genuity Group decreased their price objective on shares of CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

CVRx Stock Performance

NASDAQ CVRX traded down $0.23 during trading on Thursday, reaching $6.46. The company's stock had a trading volume of 193,443 shares, compared to its average volume of 332,119. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06. The firm has a market cap of $168.43 million, a price-to-earnings ratio of -2.40 and a beta of 1.30. CVRx, Inc. has a twelve month low of $4.30 and a twelve month high of $18.55. The business's fifty day moving average price is $7.27 and its 200-day moving average price is $11.71.

CVRx (NASDAQ:CVRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.03. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. The company had revenue of $12.35 million for the quarter, compared to analyst estimates of $14.68 million. As a group, analysts anticipate that CVRx, Inc. will post -1.91 EPS for the current fiscal year.

CVRx 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.