CVRx (NASDAQ:CVRX) Raised to “Outperform” at William Blair

CVRx (NASDAQ:CVRX) was upgraded by investment analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday,Finviz reports.

Other analysts also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price objective on shares of CVRx in a research report on Wednesday, October 23rd. Canaccord Genuity Group lifted their price target on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Craig Hallum boosted their price target on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Finally, Lake Street Capital upped their price target on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.67.

CVRx Trading Up 6.1 %

Shares of CVRx stock opened at $15.04 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23. The stock’s 50 day simple moving average is $14.00 and its 200-day simple moving average is $10.97. The stock has a market cap of $364.87 million, a P/E ratio of -5.57 and a beta of 1.20. CVRx has a 1-year low of $6.40 and a 1-year high of $29.23.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The firm had revenue of $13.37 million during the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. During the same period in the prior year, the company posted ($0.43) EPS. Analysts predict that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Trading of CVRx

A number of large investors have recently modified their holdings of CVRX. Rhumbline Advisers grew its stake in CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of CVRx by 36.1% in the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after buying an additional 5,053 shares during the period. Geode Capital Management LLC grew its position in shares of CVRx by 2.2% during the third quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock worth $2,600,000 after buying an additional 6,443 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 worth $446,000 after buying an additional 8,741 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of CVRx during the third quarter worth approximately $108,000. Hedge funds and other institutional investors 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.