Equities Analysts Set Expectations for CVRx, Inc.'s Q2 2024 Earnings (NASDAQ:CVRX)

CVRx, Inc. (NASDAQ:CVRX - Free Report) - Research analysts at William Blair reduced their Q2 2024 earnings per share estimates for shares of CVRx in a report issued on Wednesday, May 1st. William Blair analyst M. Kaczor now forecasts that the company will earn ($0.57) per share for the quarter, down from their prior forecast of ($0.46). William Blair currently has a "Market Perform" rating on the stock. The consensus estimate for CVRx's current full-year earnings is ($1.89) per share. William Blair also issued estimates for CVRx's Q3 2024 earnings at ($0.50) EPS, Q4 2024 earnings at ($0.49) EPS, FY2024 earnings at ($2.61) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.51) EPS, Q3 2025 earnings at ($0.47) EPS, Q4 2025 earnings at ($0.47) EPS and FY2025 earnings at ($1.98) EPS.

CVRX has been the subject of several other research reports. Craig Hallum started coverage on CVRx in a report on Wednesday. They issued a "buy" rating and a $23.00 price objective for the company. Lake Street Capital decreased their price target on CVRx from $35.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut CVRx from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $36.00 to $13.00 in a research note on Wednesday. Canaccord Genuity Group decreased their target price on shares of CVRx from $32.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Piper Sandler dropped their price target on shares of CVRx from $33.00 to $15.00 and set an "overweight" rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.60.

CVRx Stock Up 8.7 %

CVRx stock traded up $0.74 during mid-day trading on Friday, reaching $9.22. The company's stock had a trading volume of 551,943 shares, compared to its average volume of 174,173. The company has a debt-to-equity ratio of 0.38, a quick ratio of 12.86 and a current ratio of 14.25. CVRx has a 12 month low of $7.77 and a 12 month high of $33.13. The business's 50 day simple moving average is $18.11 and its 200 day simple moving average is $20.90. The company has a market capitalization of $199.06 million, a price-to-earnings ratio of -3.76 and a beta of 1.35.

Institutional Trading of CVRx

Institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC acquired a new stake in CVRx during the first quarter worth about $346,000. Parkman Healthcare Partners LLC boosted its position in shares of CVRx by 8.0% during the 4th quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company's stock worth $7,546,000 after acquiring an additional 17,880 shares in the last quarter. Trexquant Investment LP bought a new position in CVRx in the fourth quarter valued at approximately $426,000. Level Four Advisory Services LLC raised its position in CVRx by 6.8% during the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company's stock valued at $908,000 after purchasing an additional 1,844 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in CVRx during the fourth quarter worth $499,000. 75.27% of the stock is currently owned by institutional investors.

Insider Activity at CVRx

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Verrastro sold 2,545 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total transaction of $55,760.95. Following the completion of the sale, the insider now directly owns 2,455 shares of the company's stock, valued at approximately $53,789.05. The disclosure for this sale can be found here. 18.30% of the stock is owned by company insiders.

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.