CVRx (NASDAQ:CVRX) PT Lowered to $13.00

CVRx (NASDAQ:CVRX) had its target price dropped by Piper Sandler from $15.00 to $13.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 52.05% from the company’s current price.

A number of other research firms have also recently issued reports on CVRX. Canaccord Genuity Group cut their price objective on CVRx from $32.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Lake Street Capital cut their price objective on CVRx from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. William Blair cut CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut CVRx from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $13.00 in a research report on Wednesday, May 1st. Finally, Craig Hallum dropped their price target on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.60.

CVRx Stock Up 7.9 %

NASDAQ:CVRX opened at $8.55 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18. The company has a market cap of $184.65 million, a PE ratio of -3.46 and a beta of 1.27. CVRx has a 52-week low of $6.40 and a 52-week high of $33.13. The stock has a 50-day simple moving average of $9.65 and a 200 day simple moving average of $15.58.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative net margin of 122.52% and a negative return on equity of 72.51%. The company had revenue of $11.81 million for the quarter, compared to analyst estimates of $11.84 million. During the same period last year, the company posted ($0.56) earnings per share. On average, sell-side analysts expect that CVRx will post -2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On CVRx

A number of large investors have recently bought and sold shares of CVRX. Level Four Advisory Services LLC raised its holdings in CVRx by 6.8% during the fourth 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. Federated Hermes Inc. bought a new position in CVRx in the 4th quarter valued at about $102,000. Bank of New York Mellon Corp lifted its position in CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after acquiring an additional 8,741 shares in the last quarter. Trexquant Investment LP acquired a new position in CVRx during the 4th quarter valued at about $426,000. Finally, Jump Financial LLC bought a new stake in CVRx during the 4th quarter worth approximately $499,000. 75.27% of the stock is currently 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.