Zacks Investment Research Upgrades CVRx (NASDAQ:CVRX) to “Hold”

Zacks Investment Research upgraded shares of CVRx (NASDAQ:CVRX) from a sell rating to a hold rating in a research report sent to investors on Tuesday, reports.

According to Zacks, “CVRx Inc. is a commercial-stage medical device company. It focused on developing, manufacturing and commercializing neuromodulation solutions for patients with cardiovascular diseases. CVRx Inc. is headquartered in Minneapolis, MN. “

CVRX opened at $9.47 on Tuesday. The business’s fifty day simple moving average is $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 1-year low of $8.88 and a 1-year 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 for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.08. The company had revenue of $3.40 million for the quarter, compared to the consensus estimate of $3.42 million. On average, equities research analysts anticipate that CVRx will post -4.01 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new stake in CVRx in the third quarter valued at approximately $31,000. US Bancorp DE purchased a new position in shares of CVRx during the third quarter worth approximately $32,000. Royal Bank of Canada bought a new position in shares of CVRx in the third quarter worth approximately $71,000. California State Teachers Retirement System bought a new position in shares of CVRx in the third quarter worth approximately $73,000. Finally, American International Group Inc. bought a new position in shares of CVRx in the third quarter worth approximately $74,000. 69.43% of the stock is currently owned by hedge funds and other institutional investors.

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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