CVRx (NASDAQ:CVRX) Coverage Initiated at Craig Hallum

Equities research analysts at Craig Hallum started coverage on shares of CVRx (NASDAQ:CVRX) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $23.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 171.23% from the company’s current price.

A number of other research firms also recently weighed in on CVRX. JPMorgan Chase & Co. downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $13.00 in a research note on Wednesday. William Blair lowered shares of CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Piper Sandler lifted their target price on shares of CVRx from $21.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, CVRx presently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

CVRx Price Performance

CVRX opened at $8.48 on Wednesday. The company’s 50 day moving average is $18.39 and its 200-day moving average is $20.99. CVRx has a 1-year low of $7.77 and a 1-year high of $33.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 12.86 and a current ratio of 14.25.

Insider Buying and Selling

In related news, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Paul Verrastro sold 2,545 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the transaction, the insider now owns 2,455 shares in the company, valued at approximately $53,789.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVRX. Emerald Advisers LLC lifted its position in shares of CVRx by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock valued at $7,601,000 after acquiring an additional 6,419 shares during the period. Emerald Mutual Fund Advisers Trust lifted its position in shares of CVRx by 4.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock valued at $6,536,000 after acquiring an additional 16,808 shares during the period. GSG Advisors LLC acquired a new position in shares of CVRx during the 3rd quarter valued at $2,435,000. Lord Abbett & CO. LLC acquired a new position in shares of CVRx during the 3rd quarter valued at $7,116,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of CVRx during the 3rd quarter valued at $462,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.