CVRx, Inc. (NASDAQ:CVRX) Receives $14.50 Consensus Target Price from Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have received an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.50.

CVRX has been the subject of a number of research reports. Piper Sandler lowered their target price on CVRx from $20.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Lake Street Capital dropped their price objective on shares of CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Canaccord Genuity Group decreased their target price on shares of CVRx from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $7.00 price target (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th.

CVRx Price Performance

CVRX stock opened at $6.46 on Monday. The company has a market capitalization of $168.41 million, a PE ratio of -2.96 and a beta of 1.23. The company’s fifty day moving average price is $6.44 and its 200-day moving average price is $10.57. CVRx has a one year low of $4.30 and a one year high of $18.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 13.45 and a current ratio of 14.82.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. CVRx had a negative return on equity of 79.04% and a negative net margin of 97.49%. The firm had revenue of $12.35 million during the quarter, compared to analyst estimates of $14.68 million. On average, equities analysts anticipate that CVRx will post -1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other CVRx news, Director Kirk G. Nielsen bought 10,966 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $5.45 per share, with a total value of $59,764.70. Following the completion of the purchase, the director owned 1,910,134 shares in the company, valued at $10,410,230.30. This represents a 0.58% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 78,666 shares of company stock valued at $411,031. Corporate insiders own 13.90% of the company’s stock.

Institutional Investors Weigh In On CVRx

A number of institutional investors and hedge funds have recently modified their holdings of CVRX. Bank of New York Mellon Corp increased its stake in CVRx by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company’s stock worth $385,000 after purchasing an additional 1,296 shares during the period. Emerald Advisers LLC grew its holdings in shares of CVRx by 47.3% in the fourth quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock worth $7,525,000 after purchasing an additional 190,844 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CVRx by 10,520.1% in the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock worth $7,960,000 after buying an additional 622,370 shares during the period. Norges Bank bought a new stake in CVRx during the 4th quarter valued at about $1,411,000. Finally, Tradewinds LLC. purchased a new stake in CVRx in the 4th quarter valued at about $695,000. 75.27% of the stock is owned by institutional investors.

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.