CVRx (NASDAQ:CVRX) Given New $15.00 Price Target at Lake Street Capital

by · The Cerbat Gem

CVRx (NASDAQ:CVRX – Free Report) had its price objective hoisted by Lake Street Capital from $12.00 to $15.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently commented on CVRX. Craig Hallum reduced their target price on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped their price objective on CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and set a $16.00 target price (up previously from $13.00) on shares of CVRx in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CVRx currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Get Our Latest Report on CVRx

CVRx Stock Up 2.1 %

Shares of NASDAQ CVRX opened at $13.40 on Wednesday. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $9.15 and a 200 day moving average of $9.54. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The stock has a market cap of $291.99 million, a PE ratio of -4.96 and a beta of 1.26.

CVRx (NASDAQ:CVRX – Get Free Report) last released its quarterly earnings data 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 88.85% and a negative net margin of 123.75%. The company had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. During the same period last year, the firm posted ($0.43) EPS. As a group, sell-side analysts predict that CVRx will post -2.56 EPS for the current fiscal year.

Insider Buying and Selling at CVRx

In other news, CEO Kevin Hykes bought 30,000 shares of CVRx stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $8.36 per share, with a total value of $250,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 30,000 shares in the company, valued at $250,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 38,500 shares of company stock valued at $322,545 in the last quarter. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On CVRx

Institutional investors have recently modified their holdings of the company. Silvercrest Asset Management Group LLC raised its stake in CVRx by 70.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after buying an additional 105,198 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of CVRx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after purchasing an additional 31,720 shares during the period. Bank of New York Mellon Corp grew its stake in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after buying an additional 8,741 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in CVRx during the second quarter worth approximately $218,000. Finally, SG Americas Securities LLC purchased a new stake in CVRx in the third quarter valued at approximately $108,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

About CVRx

(Get Free Report)

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.

Featured Stories