CVRx (NASDAQ:CVRX) Announces Earnings Results

CVRx (NASDAQ:CVRX) issued its quarterly earnings results on Tuesday. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12), Zacks reports. CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The company had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. During the same period in the previous year, the company earned ($0.43) EPS. CVRx updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CVRx Trading Up 31.0 %

Shares of CVRX stock traded up $3.33 during mid-day trading on Wednesday, reaching $14.07. The stock had a trading volume of 1,332,835 shares, compared to its average volume of 271,500. The firm has a market capitalization of $306.53 million, a PE ratio of -5.21 and a beta of 1.26. The stock’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $9.58. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. CVRx has a 52-week low of $6.40 and a 52-week high of $33.13.

Insider Activity

In other CVRx news, CEO Kevin Hykes acquired 30,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $250,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders bought 38,500 shares of company stock valued at $322,545. Insiders own 18.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group raised their price target on CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price (up previously from $13.00) on shares of CVRx in a research note on Wednesday. Craig Hallum lowered their price objective on shares of 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 increased their target price on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CVRx presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

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.