CVRx (NASDAQ:CVRX) Receives “Overweight” Rating from Cantor Fitzgerald

CVRx (NASDAQ:CVRX)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $14.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 39.58% from the company’s current price.

A number of other research firms have also commented on CVRX. Craig Hallum dropped their price target on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Piper Sandler dropped their price target on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Canaccord Genuity Group raised their price objective on shares of CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Lake Street Capital restated a “buy” rating and issued a $12.00 price objective on shares of CVRx in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, CVRx presently has an average rating of “Moderate Buy” and an average price target of $13.67.

CVRx Stock Performance

Shares of NASDAQ:CVRX traded down $0.12 during trading on Wednesday, reaching $10.03. The stock had a trading volume of 70,037 shares, compared to its average volume of 263,053. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13. The firm has a market capitalization of $216.61 million, a price-to-earnings ratio of -4.06 and a beta of 1.26. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $8.64 and a two-hundred day simple moving average of $9.83.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. The firm had revenue of $11.81 million during the quarter, compared to the consensus estimate of $11.84 million. During the same period in the prior year, the business earned ($0.56) EPS. As a group, analysts anticipate that CVRx will post -2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CVRx news, CEO Kevin Hykes purchased 30,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $250,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 38,500 shares of company stock worth $322,545 over the last 90 days. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On CVRx

A number of institutional investors have recently bought and sold shares of CVRX. Johnson & Johnson boosted its stake in CVRx by 17.4% during the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after buying an additional 607,855 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after acquiring an additional 31,720 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after acquiring an additional 105,198 shares during the period. FourWorld Capital Management LLC bought a new position in shares of CVRx during the first quarter valued at $374,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CVRx by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after acquiring an additional 8,741 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

About CVRx

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.