CVRx (NASDAQ:CVRX) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of CVRx (NASDAQ:CVRX) in a research note published on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $14.00 price objective on the stock.

Several other research firms have also recently issued reports on CVRX. Canaccord Genuity Group upped their price objective on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Craig Hallum lowered their price target on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Lake Street Capital reiterated a “buy” rating and issued a $12.00 price target on shares of CVRx in a research note on Monday, August 26th. Finally, Piper Sandler reduced their price objective on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.67.

CVRx Stock Down 0.4 %

CVRX stock opened at $10.07 on Wednesday. The company’s 50 day moving average price is $8.77 and its 200 day moving average price is $9.71. The firm has a market capitalization of $217.47 million, a price-to-earnings ratio of -4.08 and a beta of 1.26. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $33.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08.

CVRx (NASDAQ:CVRX) last announced 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 during the quarter, compared to analyst estimates of $11.84 million. CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. During the same quarter in the previous year, the business posted ($0.56) earnings per share. On average, equities research analysts anticipate that CVRx will post -2.56 EPS for the current fiscal year.

Insider Buying and Selling at CVRx

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the transaction, the chief executive officer now owns 30,000 shares in the company, valued at approximately $250,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders bought 38,500 shares of company stock worth $322,545. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On CVRx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in CVRx during the 3rd quarter worth approximately $108,000. Rhumbline Advisers lifted its holdings in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares during the period. Dimensional Fund Advisors LP purchased a new position in CVRx in the 2nd quarter valued at $218,000. FourWorld Capital Management LLC acquired a new position in CVRx in the 1st quarter valued at $374,000. Finally, Bank of New York Mellon Corp raised its position in CVRx by 30.7% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.