CVRx (NASDAQ:CVRX) Price Target Cut to $17.00

CVRx (NASDAQ:CVRX) had its price objective cut by Canaccord Genuity Group from $30.00 to $17.00 in a report released on Thursday, Stock Target Advisor reports.

CVRX has been the topic of several other reports. Zacks Investment Research raised shares of CVRx from a sell rating to a hold rating in a research report on Tuesday. Canaccord Genuity Group dropped their price target on shares of CVRx from $30.00 to $17.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $22.37.

Shares of CVRX stock opened at $9.47 on Thursday. The stock has a fifty day simple moving average of $12.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 20.03 and a current ratio of 20.42. CVRx has a 12 month low of $8.88 and a 12 month high of $29.00.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Thursday, November 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.08. The firm had revenue of $3.40 million for the quarter, compared to the consensus estimate of $3.42 million. Analysts anticipate that CVRx will post -4.01 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of CVRX. Strs Ohio bought a new position in shares of CVRx in the third quarter valued at about $31,000. US Bancorp DE acquired a new position in shares of CVRx in the third quarter valued at about $32,000. Royal Bank of Canada acquired a new position in shares of CVRx in the third quarter valued at about $71,000. California State Teachers Retirement System acquired a new position in shares of CVRx in the third quarter valued at about $73,000. Finally, American International Group Inc. acquired a new position in shares of CVRx in the third quarter valued at about $74,000. 69.43% of the stock is currently owned by institutional investors.

CVRx Company Profile

CVRx, Inc develops an implantable technology for the treatment of high blood pressure/hypertension and heart failure patients. It offers BAROSTIM NEO, a neuro-modulation therapy that triggers the body's natural reflex to regulate blood pressure and the underlying causes of the progression of heart failure, which is delivered through a long-lasting implant system, and customized to each patient's individual therapy needs.

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