William Blair Upgrades CVRx (NASDAQ:CVRX) to “Strong-Buy”

William Blair upgraded shares of CVRx (NASDAQ:CVRX) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

CVRX has been the subject of several other research reports. 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. JPMorgan Chase & Co. reissued an “underweight” rating and set a $7.00 price target (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Piper Sandler dropped their price objective on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Finally, Canaccord Genuity Group decreased their target price on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CVRx has a consensus rating of “Moderate Buy” and an average price target of $14.50.

CVRx Price Performance

CVRX stock opened at $6.96 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 14.82 and a quick ratio of 13.45. CVRx has a 1 year low of $4.30 and a 1 year high of $18.55. The firm has a 50-day moving average of $6.40 and a 200 day moving average of $10.37. The company has a market cap of $181.45 million, a P/E ratio of -3.19 and a beta of 1.23.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $14.68 million. On average, sell-side analysts forecast that CVRx will post -1.91 EPS for the current year.

Insider Transactions at CVRx

In other news, Director Kirk G. Nielsen acquired 61,200 shares of CVRx stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $5.23 per share, for a total transaction of $320,076.00. Following the purchase, the director owned 1,899,168 shares in the company, valued at $9,932,648.64. This trade represents a 3.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 78,666 shares of company stock valued at $411,031. Insiders own 13.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC bought a new stake in shares of CVRx during the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC boosted its stake in CVRx by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock valued at $49,000 after purchasing an additional 1,186 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock worth $56,000 after purchasing an additional 4,305 shares in the last quarter. Quarry LP bought a new stake in shares of CVRx in the 4th quarter worth $69,000. Finally, Whittier Trust Co. purchased a new position in shares of CVRx in the first quarter worth $73,000. 75.27% of the stock is owned by hedge funds and other 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.