Analysts Set CVRx, Inc. (NASDAQ:CVRX) Price Target at $16.67

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $16.67.

A number of equities research analysts recently issued reports on the stock. Craig Hallum upped their price objective on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, November 4th. 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. Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their target price on CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd.

CVRx Stock Performance

NASDAQ CVRX opened at $14.17 on Monday. The company has a market capitalization of $343.82 million, a PE ratio of -5.25 and a beta of 1.26. 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 firm’s fifty day simple moving average is $14.00 and its 200-day simple moving average is $10.95.

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

Hedge Funds Weigh In On CVRx

Hedge funds have recently modified their holdings of the stock. Parkman Healthcare Partners LLC increased its holdings in shares of CVRx by 52.6% during the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after buying an additional 235,277 shares in the last quarter. Geode Capital Management LLC grew its position 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 last quarter. State Street Corp increased its holdings in CVRx by 11.4% during the 3rd quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after purchasing an additional 27,071 shares in the last quarter. Squarepoint Ops LLC raised its position in CVRx by 26.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock valued at $1,103,000 after purchasing an additional 19,165 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in CVRx in the third quarter worth $543,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.