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

William Blair downgraded shares of CVRx (NASDAQ:CVRX) from an outperform rating to a market perform rating in a report issued on Wednesday, Marketbeat Ratings reports.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of CVRx from $31.00 to $36.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Piper Sandler upped their target price on CVRx from $21.00 to $33.00 and gave the company an overweight rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CVRx has a consensus rating of Moderate Buy and a consensus price target of $16.60.

CVRx Price Performance

CVRX opened at $10.12 on Wednesday. The firm’s fifty day moving average price is $18.62 and its two-hundred day moving average price is $21.07. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. CVRx has a 1 year low of $7.77 and a 1 year high of $33.13.

Insider Transactions at CVRx

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other CVRx news, insider Paul Verrastro sold 2,545 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total transaction of $55,760.95. Following the sale, the insider now 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 at this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of 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. 18.30% of the stock is currently owned by company insiders.

Institutional Trading of CVRx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in CVRx in the 3rd quarter worth about $462,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of CVRx by 47.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 59,900 shares of the company’s stock worth $909,000 after buying an additional 19,200 shares in the last quarter. GSG Advisors LLC bought a new position in shares of CVRx in the third quarter valued at approximately $2,435,000. Lord Abbett & CO. LLC purchased a new position in CVRx during the third quarter valued at approximately $7,116,000. Finally, Emerald Advisers LLC increased its holdings in CVRx by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after acquiring an additional 6,419 shares during the period. 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.