Canaccord Genuity Group Cuts CVRx (NASDAQ:CVRX) Price Target to $17.00

CVRx (NASDAQ:CVRX) had its price objective decreased by investment analysts at Canaccord Genuity Group from $30.00 to $17.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Canaccord Genuity Group’s target price would suggest a potential upside of 79.51% from the stock’s current price.

CVRX has been the topic of a number of other reports. Zacks Investment Research upgraded shares of CVRx from a “sell” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity Group reduced their price objective on shares of CVRx from $30.00 to $17.00 in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $22.37.

CVRX stock opened at $9.47 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 20.03 and a current ratio of 20.42. The company has a 50-day simple moving average of $12.59. CVRx has a 52 week low of $8.88 and a 52 week high of $29.00.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Thursday, November 4th. The company reported ($0.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.08. The business had revenue of $3.40 million during the quarter, compared to analyst estimates of $3.42 million. On average, analysts predict that CVRx will post -4.01 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of CVRx in the 3rd quarter valued at approximately $31,000. US Bancorp DE bought a new position in CVRx in the 3rd quarter valued at approximately $32,000. Royal Bank of Canada bought a new position in CVRx in the 3rd quarter valued at approximately $71,000. California State Teachers Retirement System bought a new position in CVRx in the 3rd quarter valued at approximately $73,000. Finally, American International Group Inc. bought a new position in CVRx in the 3rd quarter valued at approximately $74,000. Institutional investors own 69.43% of the company’s stock.

About CVRx

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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