CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.1667.

A number of analysts have commented on CVRX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of CVRx in a report on Thursday, October 30th. Canaccord Genuity Group lifted their price objective on shares of CVRx from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Cantor Fitzgerald upped their target price on shares of CVRx from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th.

Insider Transactions at CVRx

In other CVRx news, major shareholder & Johnson Johnson sold 52,332 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $10.21, for a total value of $534,309.72. Following the completion of the sale, the insider owned 4,051,098 shares in the company, valued at approximately $41,361,710.58. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 56,232 shares of company stock valued at $573,442. Corporate insiders own 18.90% of the company’s stock.

Institutional Trading of CVRx

A number of institutional investors and hedge funds have recently modified their holdings of CVRX. Wexford Capital LP purchased a new position in CVRx in the third quarter worth $372,000. Bank of America Corp DE increased its position in shares of CVRx by 102.6% during the 3rd quarter. Bank of America Corp DE now owns 180,425 shares of the company’s stock valued at $1,456,000 after purchasing an additional 91,376 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of CVRx by 10.7% during the 3rd quarter. Alliancebernstein L.P. now owns 17,560 shares of the company’s stock worth $142,000 after purchasing an additional 1,700 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of CVRx by 8.9% in the 3rd quarter. Bridgeway Capital Management LLC now owns 54,000 shares of the company’s stock worth $436,000 after buying an additional 4,400 shares during the last quarter. Finally, EHP Funds Inc. purchased a new position in shares of CVRx in the 3rd quarter worth about $273,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Stock Performance

Shares of CVRX stock opened at $8.03 on Monday. The company has a current ratio of 9.62, a quick ratio of 8.60 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $9.45 and a two-hundred day simple moving average of $8.07. CVRx has a 12 month low of $4.30 and a 12 month high of $18.55. The firm has a market capitalization of $210.47 million, a PE ratio of -3.98 and a beta of 1.29.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. CVRx had a negative net margin of 92.95% and a negative return on equity of 84.45%. The firm had revenue of $14.69 million for the quarter, compared to analyst estimates of $14.16 million. Analysts forecast that CVRx will post -1.91 EPS for the current fiscal year.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.