Craig Hallum Begins Coverage on CVRx (NASDAQ:CVRX)

Craig Hallum assumed coverage on shares of CVRx (NASDAQ:CVRX) in a report published on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $23.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Piper Sandler raised their target price on CVRx from $21.00 to $33.00 and gave the company an overweight rating in a research note on Friday, January 26th. JPMorgan Chase & Co. cut CVRx from an overweight rating to a neutral rating and decreased their target price for the company from $36.00 to $13.00 in a research note on Wednesday. Finally, William Blair cut CVRx from an outperform rating to a market perform rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $16.60.

CVRx Price Performance

Shares of CVRX opened at $9.22 on Wednesday. The firm has a market capitalization of $199.06 million, a price-to-earnings ratio of -3.76 and a beta of 1.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 12.86 and a current ratio of 14.25. CVRx has a one year low of $7.77 and a one year high of $33.13. The stock’s fifty day moving average is $18.11 and its 200-day moving average is $20.90.

Insider Activity at CVRx

In related news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total value of $55,760.95. Following the completion of the transaction, the insider now owns 2,455 shares in the company, valued at approximately $53,789.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total value of $55,760.95. Following the completion of the transaction, the insider now owns 2,455 shares in the company, valued at approximately $53,789.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVRx

Several institutional investors and hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC purchased a new position in CVRx during the 1st quarter valued at about $346,000. Parkman Healthcare Partners LLC grew its stake in CVRx by 8.0% during the 4th quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after acquiring an additional 17,880 shares in the last quarter. Trexquant Investment LP purchased a new position in CVRx during the 4th quarter valued at about $426,000. Level Four Advisory Services LLC grew its stake in CVRx by 6.8% during the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after acquiring an additional 1,844 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in CVRx during the 4th quarter valued at about $499,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.