William Blair Lowers CVRx (NASDAQ:CVRX) to Market Perform

William Blair downgraded shares of CVRx (NASDAQ:CVRX) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. William Blair also issued estimates for CVRx’s Q2 2024 earnings at ($0.57) EPS, 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.

A number of other research analysts have also commented on the company. Piper Sandler upped their target price on CVRx from $21.00 to $33.00 and gave the company an overweight rating in a research note on Friday, January 26th. JPMorgan Chase & Co. upped their price target on CVRx from $31.00 to $36.00 and gave the company an overweight rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CVRx currently has an average rating of Moderate Buy and a consensus price target of $16.60.

CVRx Stock Performance

Shares of NASDAQ CVRX opened at $9.22 on Wednesday. The business has a fifty day simple moving average of $18.11 and a 200 day simple moving average of $20.90. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $199.06 million, a price-to-earnings ratio of -3.76 and a beta of 1.35. CVRx has a one year low of $7.77 and a one year high of $33.13.

Insider Transactions at CVRx

In other news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the sale, the insider now owns 2,455 shares in the company, valued at $53,789.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction 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 sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Verrastro sold 2,545 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the transaction, the insider now directly owns 2,455 shares in the company, valued at approximately $53,789.05. The disclosure for this sale can be found here. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On CVRx

Several large investors have recently made changes to their positions in CVRX. Emerald Advisers LLC lifted its stake in shares of CVRx by 1.3% during the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock valued at $7,601,000 after acquiring an additional 6,419 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in shares of CVRx by 4.1% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock valued at $6,536,000 after acquiring an additional 16,808 shares during the period. GSG Advisors LLC acquired a new position in shares of CVRx during the third quarter valued at $2,435,000. Lord Abbett & CO. LLC acquired a new position in shares of CVRx during the third quarter valued at $7,116,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of CVRx during the third quarter valued at $462,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Company 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.