Piper Sandler Trims CVRx (NASDAQ:CVRX) Target Price to $15.00

CVRx (NASDAQ:CVRX) had its price objective cut by Piper Sandler from $33.00 to $15.00 in a report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on CVRX. Craig Hallum started coverage on CVRx in a research report on Wednesday. They set a buy rating and a $23.00 price target for the company. William Blair cut CVRx from an outperform rating to a market perform rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of CVRx from an overweight rating to a neutral rating and reduced their target price for the company from $36.00 to $13.00 in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVRx has an average rating of Moderate Buy and an average price target of $16.60.

CVRx Stock Performance

Shares of CVRX opened at $9.22 on Wednesday. The company has a 50-day moving average of $17.85 and a two-hundred day moving average of $20.88. The stock has a market cap of $199.06 million, a P/E ratio of -3.73 and a beta of 1.35. CVRx has a 12-month low of $7.77 and a 12-month high of $33.13. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38.

Insider Activity at CVRx

In other CVRx news, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction dated 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 sale, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Verrastro sold 2,545 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total value of $55,760.95. Following the completion of the transaction, the insider now directly owns 2,455 shares in the company, valued at $53,789.05. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

Institutional Trading of CVRx

A number of institutional investors have recently modified their holdings of CVRX. Emerald Advisers LLC raised its holdings in CVRx by 1.3% in the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock valued at $7,601,000 after buying an additional 6,419 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of CVRx during the 3rd quarter valued at $7,116,000. Emerald Mutual Fund Advisers Trust boosted its position in CVRx by 4.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock worth $6,536,000 after purchasing an additional 16,808 shares during the period. Parkman Healthcare Partners LLC increased its holdings in CVRx by 8.0% in the 4th quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after purchasing an additional 17,880 shares in the last quarter. Finally, GSG Advisors LLC acquired a new stake in shares of CVRx in the third quarter valued at about $2,435,000. Hedge funds and other institutional investors 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.