CVRx, Inc. (NASDAQ:CVRX) Stock Has Consensus Target Price of $4.30

CVRx, Inc. (NASDAQ:CVRX) has been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $4.30.

A number of analysts recently issued reports on CVRX shares. Piper Sandler downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target on the stock. in a report on Friday, August 7th. Lake Street Capital lowered shares of CVRx from a “buy” rating to a “hold” rating and dropped their price target for the company from $14.00 to $3.50 in a research report on Friday, August 7th. Craig Hallum cut shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CVRx in a research report on Monday, August 3rd. Finally, Canaccord Genuity Group set a $5.00 price objective on shares of CVRx in a research report on Tuesday, September 22nd.

CVRx Trading Up 3.0%

Shares of NASDAQ:CVRX opened at $1.39 on Wednesday. CVRx has a 12-month low of $1.25 and a 12-month high of $11.30. The company has a market capitalization of $37.03 million, a PE ratio of -0.70 and a beta of 0.77. The business has a 50 day moving average of $2.50 and a two-hundred day moving average of $4.72. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The firm had revenue of $15.71 million for the quarter, compared to analyst estimates of $15.55 million. CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%. As a group, analysts forecast that CVRx will post -2.00 EPS for the current year.

Insider Activity at CVRx

In other CVRx news, COO Brent Binkowski purchased 26,223 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $2.91 per share, for a total transaction of $76,308.93. Following the purchase, the chief operating officer directly owned 56,514 shares in the company, valued at approximately $164,455.74. This trade represents a 86.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVRx

Hedge funds have recently bought and sold shares of the business. Johnson & Johnson purchased a new position in shares of CVRx during the 2nd quarter valued at approximately $20,687,786. Royal Bank of Canada raised its position in CVRx by 6,559.3% during the first quarter. Royal Bank of Canada now owns 706,950 shares of the company’s stock worth $6,688,000 after acquiring an additional 696,334 shares during the period. BlackRock Inc. purchased a new position in CVRx during the second quarter valued at $6,402,000. Bank of New York Mellon Corp acquired a new stake in shares of CVRx in the second quarter valued at about $199,000. Finally, Deutsche Bank AG acquired a new stake in shares of CVRx in the second quarter valued at about $62,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About CVRx

CVRx, Inc is a medical device company that develops and commercializes neuromodulation technologies for patients with cardiovascular diseases. Founded in 2001 and headquartered in Minneapolis, Minnesota, the company focuses on therapies that use the body’s natural neural pathways to help regulate cardiovascular function.

Its principal product is Barostim, an implantable system designed to treat certain patients with heart failure. The device uses a pulse generator and leads placed near the carotid arteries to electrically activate the baroreflex, a system involved in regulating the heart, blood vessels and nervous system.