CVRx (NASDAQ:CVRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CVRx (NASDAQ:CVRX) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler cut shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target on the stock. in a research report on Friday, August 7th. Canaccord Genuity Group set a $5.00 price objective on CVRx in a report on Tuesday, September 22nd. Craig Hallum lowered CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a report on Friday, August 7th. Cantor Fitzgerald cut their price objective on CVRx from $13.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Finally, Lake Street Capital downgraded CVRx from a “buy” rating to a “hold” rating and reduced their target price for the stock from $14.00 to $3.50 in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.30.

CVRx Trading Down 6.3%

CVRX opened at $1.48 on Friday. The stock has a market capitalization of $39.43 million, a PE ratio of -0.75 and a beta of 0.77. The firm’s fifty day moving average price is $2.82 and its 200 day moving average price is $5.05. The company has a debt-to-equity ratio of 2.94, a current ratio of 8.04 and a quick ratio of 6.87. CVRx has a 12-month low of $1.47 and a 12-month high of $11.30.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The company had revenue of $15.71 million for the quarter, compared to the consensus estimate of $15.55 million. CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. As a group, research analysts expect that CVRx will post -2.00 EPS for the current fiscal year.

Insiders Place Their Bets

In other CVRx news, COO Brent Binkowski bought 26,223 shares of the stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $2.91 per share, for a total transaction of $76,308.93. Following the completion of the purchase, the chief operating officer directly owned 56,514 shares in the company, valued at approximately $164,455.74. This trade represents a 86.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVRX. Bank of America Corp DE acquired a new position in shares of CVRx in the 2nd quarter valued at about $102,000. BlackRock Inc. acquired a new stake in CVRx during the second quarter worth about $6,402,000. Deutsche Bank AG acquired a new stake in CVRx during the second quarter worth about $62,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CVRx in the second quarter worth about $107,000. Finally, Bank of New York Mellon Corp bought a new position in CVRx in the second quarter worth about $199,000. 75.27% of the stock is currently owned by institutional investors.

About CVRx

CVRx, Inc is a medical device company that develops and commercializes neuromodulation technologies for patients with cardiovascular diseases. Founded in 2001 and headquartered in Minneapolis, Minnesota, the company focuses on therapies that use the body’s natural neural pathways to help regulate cardiovascular function.

Its principal product is Barostim, an implantable system designed to treat certain patients with heart failure. The device uses a pulse generator and leads placed near the carotid arteries to electrically activate the baroreflex, a system involved in regulating the heart, blood vessels and nervous system.