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

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

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

CVRx Stock Up 6.1 %

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

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) 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 analyst estimates 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 quarter in the prior year, the business earned ($0.43) EPS. Research analysts anticipate that CVRx will post -2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVRx

Several institutional investors and hedge funds have recently modified their holdings of CVRX. Rhumbline Advisers boosted its holdings in CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after purchasing an additional 3,863 shares during the period. Jane Street Group LLC grew its position in CVRx by 36.1% during the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after buying an additional 5,053 shares in the last quarter. Geode Capital Management LLC increased its stake in CVRx by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock worth $2,600,000 after acquiring an additional 6,443 shares during the period. Bank of New York Mellon Corp raised its holdings in CVRx by 30.7% in the 2nd 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 in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of CVRx during the 3rd quarter valued at $108,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.