CVRx, Inc. (NASDAQ:CVRX) Director Joseph P. Slattery Purchases 3,000 Shares

CVRx, Inc. (NASDAQ:CVRX) Director Joseph P. Slattery bought 3,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $8.24 per share, for a total transaction of $24,720.00. Following the completion of the transaction, the director now directly owns 27,645 shares of the company’s stock, valued at approximately $227,794.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

CVRx Stock Performance

Shares of NASDAQ CVRX opened at $8.54 on Friday. The company has a market cap of $184.43 million, a P/E ratio of -3.46 and a beta of 1.25. CVRx, Inc. has a 52-week low of $6.40 and a 52-week high of $33.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18. The firm’s fifty day moving average is $9.83 and its two-hundred day moving average is $14.68.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). The firm had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $11.84 million. CVRx had a negative net margin of 122.52% and a negative return on equity of 72.51%. During the same quarter in the previous year, the business earned ($0.56) EPS. As a group, analysts anticipate that CVRx, Inc. will post -2.57 EPS for the current fiscal year.

Institutional Trading of CVRx

Several hedge funds have recently modified their holdings of the company. Federated Hermes Inc. bought a new stake in CVRx in the fourth quarter worth $102,000. Jump Financial LLC purchased a new position in shares of CVRx in the 4th quarter worth $499,000. Level Four Advisory Services LLC increased its holdings in shares of CVRx by 6.8% in the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after buying an additional 1,844 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of CVRx in the 4th quarter worth about $426,000. Finally, Parkman Healthcare Partners LLC raised its position in shares of 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 buying an additional 17,880 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVRX has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $13.00 in a report on Wednesday, May 1st. Lake Street Capital lowered their target price on shares of CVRx from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Piper Sandler cut their price target on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Craig Hallum lowered their price objective on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group increased their target price on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and four have given 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 price target of $13.60.

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.