Johnson & Johnson Purchases Shares of 4,024,861 CVRx, Inc. $CVRX

Johnson & Johnson purchased a new position in shares of CVRx, Inc. (NASDAQ:CVRX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,024,861 shares of the company’s stock, valued at approximately $20,687,786,000. CVRx comprises about 2.6% of Johnson & Johnson’s investment portfolio, making the stock its 7th largest holding. Johnson & Johnson owned approximately 0.15% of CVRx as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CVRx by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,090,226 shares of the company’s stock valued at $8,798,000 after acquiring an additional 12,948 shares during the period. GSK plc bought a new position in shares of CVRx during the fourth quarter worth approximately $7,154,000. Balyasny Asset Management L.P. raised its position in shares of CVRx by 17.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 814,943 shares of the company’s stock valued at $5,786,000 after buying an additional 118,683 shares in the last quarter. Royal Bank of Canada raised its position in shares of CVRx by 6,559.3% in the first quarter. Royal Bank of Canada now owns 706,950 shares of the company’s stock valued at $6,688,000 after buying an additional 696,334 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of CVRx by 6.4% in the second quarter. Geode Capital Management LLC now owns 382,437 shares of the company’s stock valued at $2,249,000 after buying an additional 23,079 shares during the period. Institutional investors own 75.27% of the company’s stock.

Insiders Place Their Bets

In other CVRx news, COO Brent Binkowski bought 26,223 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $2.91 per share, for a total transaction of $76,308.93. Following the completion of the transaction, the chief operating officer directly owned 56,514 shares in the company, valued at approximately $164,455.74. The trade was a 86.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 16.60% of the stock is owned by company insiders.

CVRx Stock Performance

Shares of NASDAQ:CVRX opened at $3.08 on Friday. The company’s 50 day simple moving average is $4.92 and its 200 day simple moving average is $6.37. The stock has a market capitalization of $82.05 million, a price-to-earnings ratio of -1.56 and a beta of 0.81. The company has a debt-to-equity ratio of 2.94, a current ratio of 8.04 and a quick ratio of 6.87. CVRx, Inc. has a 1 year low of $2.20 and a 1 year high of $11.30.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. The firm had revenue of $15.71 million for the quarter, compared to analyst estimates of $15.55 million. As a group, research analysts predict that CVRx, Inc. will post -1.97 EPS for the current fiscal year.

Analyst Ratings Changes

CVRX has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a research note on Monday, August 3rd. Craig Hallum downgraded CVRx from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Friday, August 7th. Lake Street Capital lowered CVRx from a “buy” rating to a “hold” rating and reduced their target price for the stock from $14.00 to $3.50 in a report on Friday, August 7th. Wall Street Zen cut CVRx from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Piper Sandler downgraded CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target for the company. in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CVRx has an average rating of “Hold” and a consensus target price of $6.90.

CVRx Company 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.