CVRx (NASDAQ:CVRX) Downgraded by William Blair to Market Perform

CVRx (NASDAQ:CVRX) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Briefing.com reports.

Several other equities analysts have also recently weighed in on CVRX. JPMorgan Chase & Co. raised their price target on shares of CVRx from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Piper Sandler increased their price target on CVRx from $21.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, January 26th.

CVRx Stock Performance

CVRX opened at $15.51 on Wednesday. The company has a market cap of $334.86 million, a price-to-earnings ratio of -7.83 and a beta of 1.29. The company’s fifty day moving average price is $18.62 and its two-hundred day moving average price is $21.07. CVRx has a 1-year low of $9.92 and a 1-year high of $33.13. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38.

Insider Buying and Selling at CVRx

In other CVRx news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total transaction of $55,760.95. Following the completion of the transaction, the insider now owns 2,455 shares in the company, valued at $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 the firm’s 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 completion of the transaction, the insider now directly owns 2,455 shares of the company’s stock, valued at approximately $53,789.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now 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. 18.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new stake in shares of CVRx in the fourth quarter worth about $102,000. Trexquant Investment LP bought a new position in shares of CVRx in the fourth quarter worth approximately $426,000. Jump Financial LLC bought a new stake in CVRx during the fourth quarter valued at approximately $499,000. Valeo Financial Advisors LLC bought a new stake in CVRx during the first quarter valued at approximately $346,000. Finally, Level Four Advisory Services LLC increased its holdings in shares of CVRx by 6.8% in the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after buying an additional 1,844 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.