CVRx, Inc. (NASDAQ:CVRX) Receives $17.83 Average Target Price from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.83.

CVRX has been the subject of several recent research reports. William Blair upgraded shares of CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Piper Sandler raised their price objective on shares of CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Craig Hallum upped their target price on CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Canaccord Genuity Group raised their price target on CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th.

Institutional Investors Weigh In On CVRx

Several hedge funds have recently made changes to their positions in the business. PDT Partners LLC purchased a new position in CVRx during the third quarter worth about $543,000. Barclays PLC lifted its holdings in shares of CVRx by 312.5% during the 3rd quarter. Barclays PLC now owns 19,067 shares of the company’s stock worth $169,000 after acquiring an additional 14,445 shares during the period. Jane Street Group LLC boosted its position in shares of CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after acquiring an additional 5,053 shares during the last quarter. Geode Capital Management LLC grew its holdings in CVRx by 2.2% in the third quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock valued at $2,600,000 after purchasing an additional 6,443 shares during the period. Finally, State Street Corp grew its holdings in CVRx by 11.4% in the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after purchasing an additional 27,071 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Price Performance

CVRX stock opened at $12.49 on Friday. The company has a market cap of $325.19 million, a price-to-earnings ratio of -4.64 and a beta of 1.34. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $14.03 and a 200-day moving average of $12.78. CVRx has a 12-month low of $6.40 and a 12-month high of $19.24.

CVRx (NASDAQ:CVRX) last posted its earnings results on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. As a group, equities analysts expect that CVRx will post -1.91 EPS for the current fiscal year.

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.