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CVRX

CVRx NasdaqGS:CVRX Stock Report

Last Price

US$9.20

Market Cap

US$189.3m

7D

0.7%

1Y

-51.3%

Updated

14 Aug, 2022

Data

Company Financials +
CVRX fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance0/6
Financial Health6/6
Dividends0/6

CVRX Stock Overview

CVRx, Inc., a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases.

CVRx, Inc. Competitors

Price History & Performance

Summary of all time highs, changes and price drops for CVRx
Historical stock prices
Current Share PriceUS$9.20
52 Week HighUS$20.49
52 Week LowUS$4.60
Beta0
1 Month Change35.69%
3 Month Change78.30%
1 Year Change-51.32%
3 Year Changen/a
5 Year Changen/a
Change since IPO-67.14%

Recent News & Updates

Aug 05

CVRx Pursues Revenue Growth But Operating Losses Worsen

CVRx went public in June 2021, raising approximately $126 million in an IPO. The company is commercializing its neuromodulation cardiovascular medical device and related products. CVRx is growing revenue from a tiny base but is generating high operating losses and faces a variety of risks. I'm on Hold for CVRx in the near term. A Quick Take On CVRx CVRx (CVRX) went public in June 2021, raising approximately $126 million in gross proceeds from an upsized IPO that was priced at $18.00 per share. The firm is commercializing a device that improves cardiovascular function in patients with heart failure. CVRX has a promising product portfolio and is continuing its expansion plans but faces risks and higher operating losses amid an increasing cost of capital environment. I'm on Hold for CVRX in the near term. CVRx Overview Minneapolis, Minnesota-based CVRx was founded to develop its BAROSTIM device that sends persistent electrical pulses to baroreceptors inside the wall of the carotid artery as a signal to the brain to modulate cardiovascular function. Management is headed by President and CEO, Nadim Yared, who has been with the firm since 2006 and was previously Vice President and General Manager of Medtronic Navigation. The firm sells its BAROSTIM NEO to hospitals through its direct sales organizations in the U.S. and Germany and through distributors in other European countries. CVRx's Market & Competition CVRx's market is focused on the cardiovascular system's use of neuromodulation functions. The global congestive heart failure device market size was an estimated $15.6 billion in 2015 and is projected to grow to $31.4 billion by 2024, according to a report by Grand View Research. This growth would represent a CAGR of 8.1% from 2016 to 2024. The historical and projected future growth trajectory of the global market for heart failure treatment devices is shown below: Global Heart Failure Devices Market (Grand View Research) There are a variety of industry market participants depending on product type: Medtronic Boston Scientific Biotronik SE & Co. KG St. Jude Medical Abbott Laboratories LivaNova Impulse Dynamics CVRx's Recent Financial Performance Total revenue by quarter has grown from a small base: 5 Quarter Total Revenue (Seeking Alpha) Gross profit by quarter has also risen as revenue has increased: 5 Quarter Gross Profit (Seeking Alpha) Selling, G&A expenses as a percentage of total revenue by quarter have remained high as the firm has ramped up its sales efforts: 5 Quarter Selling, G&A % Of Revenue (Seeking Alpha) Operating losses by quarter have increased markedly in recent reporting periods: 5 Quarter Operating Income (Seeking Alpha) Earnings per share (Diluted) have also become increasingly negative in recent quarters: 5 Quarter Earnings Per Share (Seeking Alpha) (All data in above charts is GAAP) In the past 12 months, CVRX's stock price has fallen 56% vs. the U.S. S&P 500 Index's drop of around 6.9%, as the chart below indicates: 52 Week Stock Price (Seeking Alpha) Valuation And Other Metrics For CVRx Below is a table of relevant capitalization and valuation figures for the company: Measure Amount Enterprise Value $71,920,000 Market Capitalization $192,800,000 Enterprise Value/Sales ((TTM)) 4.45 Revenue Growth Rate ((TTM)) 78.21% Operating Cash Flow ((TTM)) -$36,970,000 Earnings Per Share (Fully Diluted) -$1.85 (Source - Seeking Alpha) Commentary On CVRx In its last earnings call (Source - Seeking Alpha), covering Q2 2022's results, management highlighted topline revenue growth as being due to adding new implanting centers as customers as well as existing locations increasing their usage. Management is focused on expanding its commercial network, continuing to develop its portfolio, and growing the clinical body of evidence to support the use of its system. The firm intends to continue investing in its commercialization activities in the U.S. and Europe. As to its financial results, total revenue reached $5.0 million, representing 61% growth year-over-year.

Shareholder Returns

CVRXUS Medical EquipmentUS Market
7D0.7%1.9%3.2%
1Y-51.3%-19.1%-10.2%

Return vs Industry: CVRX underperformed the US Medical Equipment industry which returned -19.1% over the past year.

Return vs Market: CVRX underperformed the US Market which returned -10.2% over the past year.

Price Volatility

Is CVRX's price volatile compared to industry and market?
CVRX volatility
CVRX Average Weekly Movement11.5%
Medical Equipment Industry Average Movement9.4%
Market Average Movement7.7%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.2%

Stable Share Price: CVRX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: CVRX's weekly volatility (11%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2000109Nadim Yaredhttps://www.cvrx.com

CVRx, Inc., a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. It offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure (HF) with reduced ejection fraction or systolic HF. The company sells its products through direct sales force, as well as sales agents and independent distributors in the United States, Germany, rest of Europe, and internationally.

CVRx, Inc. Fundamentals Summary

How do CVRx's earnings and revenue compare to its market cap?
CVRX fundamental statistics
Market CapUS$189.30m
Earnings (TTM)-US$37.76m
Revenue (TTM)US$16.16m

11.7x

P/S Ratio

-5.0x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CVRX income statement (TTM)
RevenueUS$16.16m
Cost of RevenueUS$4.01m
Gross ProfitUS$12.15m
Other ExpensesUS$49.92m
Earnings-US$37.76m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.84
Gross Margin75.19%
Net Profit Margin-233.69%
Debt/Equity Ratio0%

How did CVRX perform over the long term?

See historical performance and comparison