CVRx, Inc. to Post Q2 2024 Earnings of ($0.57) Per Share, William Blair Forecasts (NASDAQ:CVRX)

CVRx, Inc. (NASDAQ:CVRX) – Equities researchers at William Blair cut their Q2 2024 earnings estimates for 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 previous estimate 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 ($2.22) 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 topic of a number of other reports. Lake Street Capital cut their price target on CVRx from $35.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler reduced their target price on shares of CVRx from $33.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $13.00 in a research note on Wednesday. Canaccord Genuity Group reduced their price objective on shares of CVRx from $32.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Craig Hallum assumed coverage on CVRx in a research report on Wednesday. They set a “buy” rating and a $23.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.60.

CVRx Trading Up 8.7 %

Shares of CVRX stock opened at $9.22 on Friday. CVRx has a twelve month low of $7.77 and a twelve month high of $33.13. The stock’s fifty day simple moving average is $17.85 and its 200 day simple moving average is $20.88. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $199.06 million, a P/E ratio of -3.73 and a beta of 1.35.

Insider Transactions at CVRx

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The shares were 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 directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was 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 of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Verrastro sold 2,545 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total value of $55,760.95. Following 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. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of CVRx

Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in CVRx in the third quarter worth $462,000. Schonfeld Strategic Advisors LLC increased its position in CVRx by 47.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 59,900 shares of the company’s stock valued at $909,000 after buying an additional 19,200 shares in the last quarter. GSG Advisors LLC acquired a new position in CVRx during the 3rd quarter worth approximately $2,435,000. Lord Abbett & CO. LLC acquired a new position in CVRx during the 3rd quarter worth approximately $7,116,000. Finally, Emerald Advisers LLC boosted its holdings in CVRx by 1.3% in the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after acquiring an additional 6,419 shares in the last quarter. Institutional investors 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.