CVRx, Inc. (NASDAQ:CVRX) Receives $19.40 Consensus Price Target from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $16.60.

Several brokerages recently weighed in on CVRX. Piper Sandler dropped their price target on shares of CVRx from $33.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Lake Street Capital cut their target price on CVRx from $35.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Craig Hallum began coverage on CVRx in a research report on Wednesday, May 1st. They issued a “buy” rating and a $23.00 price target for the company. William Blair downgraded shares of CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $13.00 in a report on Wednesday, May 1st.

CVRx Stock Up 8.7 %

CVRx stock opened at $9.22 on Wednesday. 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 firm’s fifty day moving average price is $17.85 and its two-hundred day moving average price is $20.98. The firm has a market capitalization of $199.06 million, a price-to-earnings ratio of -3.73 and a beta of 1.35. CVRx has a 1-year low of $7.77 and a 1-year high of $33.13.

Insider Activity

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

Institutional Investors Weigh In On CVRx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Advisers LLC increased its stake in shares of CVRx by 1.3% in the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after purchasing an additional 6,419 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in CVRx in the 3rd quarter worth approximately $7,116,000. Emerald Mutual Fund Advisers Trust boosted its holdings in CVRx by 4.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock worth $6,536,000 after buying an additional 16,808 shares during the period. Parkman Healthcare Partners LLC grew its stake in CVRx by 8.0% in the 4th quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after buying an additional 17,880 shares in the last quarter. Finally, GSG Advisors LLC bought a new stake in CVRx during the 3rd quarter valued at $2,435,000. 75.27% of the stock is currently owned by institutional investors.

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.