William Blair Has Bullish Estimate for CVRx FY2024 Earnings

CVRx, Inc. (NASDAQ:CVRX) – Equities research analysts at William Blair raised their FY2024 earnings estimates for shares of CVRx in a report issued on Tuesday, January 14th. William Blair analyst M. Andrew now expects that the company will post earnings per share of ($2.62) for the year, up from their prior estimate of ($2.65). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for CVRx’s current full-year earnings is ($2.62) per share. William Blair also issued estimates for CVRx’s Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.64) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.46) EPS, FY2025 earnings at ($2.08) EPS, Q1 2026 earnings at ($0.55) EPS, Q2 2026 earnings at ($0.50) EPS, Q3 2026 earnings at ($0.42) EPS, Q4 2026 earnings at ($0.35) EPS and FY2026 earnings at ($1.82) EPS.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. The firm had revenue of $13.37 million for the quarter, compared to the consensus estimate of $13.28 million. During the same period in the prior year, the business earned ($0.43) earnings per share.

CVRX has been the subject of several other reports. Canaccord Genuity Group lifted their price target on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 9th. Craig Hallum lifted their price target on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price target on shares of CVRx in a report on Wednesday, October 23rd. Lake Street Capital lifted their price target on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

CVRx Trading Up 1.8 %

Shares of CVRX stock opened at $17.30 on Thursday. CVRx has a 12-month low of $6.40 and a 12-month high of $29.23. The company has a market capitalization of $419.70 million, a P/E ratio of -6.41 and a beta of 1.26. The firm has a 50-day moving average price of $14.04 and a 200 day moving average price of $11.05. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after purchasing an additional 8,741 shares during the last quarter. Rhumbline Advisers boosted its position in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of CVRx in the 2nd quarter valued at $218,000. Marshall Wace LLP bought a new stake in shares of CVRx in the second quarter worth about $495,000. Finally, Squarepoint Ops LLC increased its stake in CVRx by 26.3% during the 2nd quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock worth $1,103,000 after purchasing an additional 19,165 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.