Johnson & Johnson Sells 78,569 Shares of CVRx, Inc. $CVRX

Johnson & Johnson cut its stake in shares of CVRx, Inc. (NASDAQ:CVRX) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,024,861 shares of the company’s stock after selling 78,569 shares during the quarter. CVRx makes up approximately 5.1% of Johnson & Johnson’s portfolio, making the stock its 5th biggest position. Johnson & Johnson owned 0.15% of CVRx worth $28,577,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Stoneridge Investment Partners LLC raised its holdings in CVRx by 7.9% in the third quarter. Stoneridge Investment Partners LLC now owns 20,126 shares of the company’s stock valued at $162,000 after acquiring an additional 1,471 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of CVRx by 10.7% in the 3rd quarter. Alliancebernstein L.P. now owns 17,560 shares of the company’s stock valued at $142,000 after purchasing an additional 1,700 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of CVRx by 3.5% in the 2nd quarter. Cresset Asset Management LLC now owns 53,542 shares of the company’s stock valued at $315,000 after purchasing an additional 1,823 shares in the last quarter. Barclays PLC raised its holdings in shares of CVRx by 9.8% in the 4th quarter. Barclays PLC now owns 25,262 shares of the company’s stock valued at $179,000 after purchasing an additional 2,257 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of CVRx by 155.6% during the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after purchasing an additional 3,303 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CVRX. Cantor Fitzgerald raised CVRx to a “strong-buy” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Finally, Canaccord Genuity Group lowered their price objective on CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.20.

CVRx Trading Up 6.8%

Shares of CVRx stock opened at $9.46 on Wednesday. The company has a fifty day simple moving average of $7.36 and a 200-day simple moving average of $8.12. CVRx, Inc. has a 12-month low of $4.30 and a 12-month high of $13.15. The company has a current ratio of 7.63, a quick ratio of 6.72 and a debt-to-equity ratio of 1.26. The stock has a market cap of $248.89 million, a price-to-earnings ratio of -4.61 and a beta of 1.28.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). CVRx had a negative return on equity of 99.32% and a negative net margin of 94.10%.The company had revenue of $16.02 million for the quarter, compared to analyst estimates of $15.75 million. On average, equities analysts forecast that CVRx, Inc. will post -1.91 EPS for the current fiscal year.

Insider Activity

In other news, Director Mudit K. Jain bought 46,800 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $6.36 per share, for a total transaction of $297,648.00. Following the completion of the transaction, the director owned 980,183 shares of the company’s stock, valued at approximately $6,233,963.88. This trade represents a 5.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 18.90% of the company’s stock.

CVRx Profile

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.