William Blair Research Analysts Decrease Earnings Estimates for CVRx, Inc. (NASDAQ:CVRX)

CVRx, Inc. (NASDAQ:CVRX) – Equities researchers at William Blair decreased their Q2 2024 earnings per share estimates for shares of CVRx in a research note issued to investors on Wednesday, May 1st. William Blair analyst M. Kaczor now expects that the company will post earnings of ($0.57) per share for the quarter, down from their previous estimate of ($0.46). William Blair has a “Market Perform” rating on the stock. The consensus estimate for CVRx’s current full-year earnings is ($1.89) per share. William Blair also issued estimates for CVRx’s Q3 2024 earnings at ($0.50) EPS, Q4 2024 earnings at ($0.49) EPS, FY2024 earnings at ($2.61) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.51) EPS, Q3 2025 earnings at ($0.47) EPS, Q4 2025 earnings at ($0.47) EPS and FY2025 earnings at ($1.98) EPS.

Other research analysts have also recently issued reports about the stock. Lake Street Capital lowered their price target on shares of CVRx from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group cut their price target on CVRx from $32.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. Craig Hallum assumed coverage on CVRx in a research note on Wednesday. They set a “buy” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. downgraded CVRx from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $13.00 in a report on Wednesday. Finally, Piper Sandler reduced their price target on CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.60.

CVRx Stock Performance

Shares of CVRx stock opened at $9.22 on Friday. CVRx has a 12 month low of $7.77 and a 12 month high of $33.13. The firm has a market capitalization of $199.06 million, a P/E ratio of -3.76 and a beta of 1.35. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $18.11 and a two-hundred day simple moving average of $20.90.

Insider Buying and Selling

In other news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the transaction, the insider now owns 2,455 shares in the company, valued at approximately $53,789.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul Verrastro sold 2,545 shares of CVRx stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the transaction, the insider now directly owns 2,455 shares in the company, valued at $53,789.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVRx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Level Four Advisory Services LLC boosted its position in shares of CVRx by 6.8% in the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after purchasing an additional 1,844 shares during the period. Federated Hermes Inc. bought a new position in CVRx in the 4th quarter worth $102,000. Emerald Advisers LLC increased its stake in CVRx by 1.3% in the 3rd quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after buying an additional 6,419 shares in the last quarter. Trexquant Investment LP purchased a new stake in CVRx in the 4th quarter worth $426,000. Finally, Jump Financial LLC bought a new stake in CVRx during the fourth quarter valued at about $499,000. 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.