CVRX Chart
About

CVRx, Inc., a commercial-stage medical device company, engages in developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases in the United States, Germany, and internationally. The company offers Barostim, an implantable device that delivers electrical pulses to baroreceptors located in the wall of the carotid artery to counteract decreased baroreceptor signaling, and provides baroreflex activation therapy, which links the cardiovascular system to the autonomic nervous system. It sells its products through direct sales force, sales agents, and independent distributors. The company was incorporated in 2000 and is headquartered in Minneapolis, Minnesota.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Medical Devices Market Cap 190.50M
Enterprise Value 165.29M Income -53.31M Sales 56.65M
Book/sh 1.50 Cash/sh 2.88 Dividend Yield —
Payout 0.00% Employees 223 IPO —
P/E — Forward P/E -4.07 PEG —
P/S 3.36 P/B 4.84 P/C —
EV/EBITDA -3.27 EV/Sales 2.92 Quick Ratio 6.49
Current Ratio 7.63 Debt/Eq 128.43 LT Debt/Eq —
EPS (ttm) -2.04 EPS next Y -1.78 EPS Growth —
Revenue Growth 4.40% Earnings 2026-05-14 ROA -26.90%
ROE -96.59% ROIC — Gross Margin 85.33%
Oper. Margin -69.80% Profit Margin -94.10% Shs Outstand 26.31M
Shs Float 17.20M Short Float 8.48% Short Ratio 4.51
Short Interest — 52W High 14.04 52W Low 4.30
Beta 1.28 Avg Volume 291.77K Volume 639.13K
Target Price $11.17 Recom Buy Prev Close $6.79
Price $7.24 Change 6.63%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$11.17
Mean price target
2. Current target
$7.24
Latest analyst target
3. DCF / Fair value
$-16.27
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$7.24
Low
$6.00
High
$14.00
Mean
$11.17

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-13 main Canaccord Genuity Buy → Buy $10
2025-11-06 main Canaccord Genuity Buy → Buy $11
2025-11-06 main Cantor Fitzgerald Overweight → Overweight $13
2025-08-05 reit Cantor Fitzgerald Overweight → Overweight $11
2025-05-09 main Piper Sandler Overweight → Overweight $12
2025-05-09 down JP Morgan Neutral → Underweight $7
2025-04-08 main Lake Street Buy → Buy $14
2025-04-08 main Canaccord Genuity Buy → Buy $18
2025-02-05 main Piper Sandler Overweight → Overweight $20
2025-02-05 main Canaccord Genuity Buy → Buy $23
2025-01-17 main Craig-Hallum Buy → Buy $22
2025-01-14 up William Blair Market Perform → Outperform —
2024-12-09 main Canaccord Genuity Buy → Buy $22
2024-11-04 main Craig-Hallum Buy → Buy $20
2024-10-30 main Lake Street Buy → Buy $15
2024-10-30 main Canaccord Genuity Buy → Buy $17
2024-10-30 reit Piper Sandler Overweight → Overweight $16
2024-10-23 reit Cantor Fitzgerald Overweight → Overweight $14
2024-09-10 init Cantor Fitzgerald — → Overweight $14
2024-08-26 reit Lake Street Buy → Buy $12
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 46800 297592 — Purchase at price 6.36 per share. JAIN MUDIT KUMAR Director — 2026-02-20 00:00:00 I
1 600 2785 — Purchase at price 4.64 per share. JAIN MUDIT KUMAR Director — 2026-02-18 00:00:00 D
2 6337 63560 — Sale at price 10.03 per share. JOHNSON & JOHNSON Beneficial Owner of more than 10% of a Class of Security — 2025-11-26 00:00:00 I
3 22337 224040 — Sale at price 10.03 per share. JOHNSON & JOHNSON Beneficial Owner of more than 10% of a Class of Security — 2025-11-26 00:00:00 I
4 2700 27132 — Sale at price 10.00 - 10.06 per share. JOHNSON & JOHNSON Beneficial Owner of more than 10% of a Class of Security — 2025-11-24 00:00:00 I
5 1000 10000 — Sale at price 10.00 per share. JOHNSON & JOHNSON Beneficial Owner of more than 10% of a Class of Security — 2025-11-12 00:00:00 I
6 1000 10000 — Sale at price 10.00 per share. JOHNSON & JOHNSON DEVELOPMENT CORPORATION Beneficial Owner of more than 10% of a Class of Security — 2025-11-12 00:00:00 I
7 52532 536310 — Sale at price 10.00 - 10.21 per share. JOHNSON & JOHNSON INNOVATION - JJDC, INC. Beneficial Owner of more than 10% of a Class of Security — 2025-11-07 00:00:00 I
8 16600 — — Stock Award(Grant) at price 0.00 per share. BINKOWSKI BRENT Chief Operating Officer — 2025-08-11 00:00:00 D
9 10966 59795 — Purchase at price 5.45 per share. NIELSEN KIRK G Director — 2025-05-15 00:00:00 I
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems0.000.000.000.00
TaxRateForCalcs0.000.210.210.21
NormalizedEBITDA-46.74M-54.89M-38.73M-40.74M
NetIncomeFromContinuingOperationNetMinorityInterest-53.31M-59.97M-41.20M-41.43M
ReconciledDepreciation756.00K619.00K522.00K412.00K
ReconciledCostOfRevenue8.31M8.33M6.26M5.00M
EBITDA-46.74M-54.89M-38.73M-40.74M
EBIT-47.50M-55.51M-39.25M-41.15M
NetInterestIncome-5.83M-4.40M-1.80M-165.00K
InterestExpense5.83M4.40M1.80M165.00K
NormalizedIncome-53.31M-59.97M-41.20M-41.43M
NetIncomeFromContinuingAndDiscontinuedOperation-53.31M-59.97M-41.20M-41.43M
TotalExpenses107.92M110.78M82.40M65.00M
TotalOperatingIncomeAsReported-51.27M-59.49M-43.10M-42.53M
DilutedAverageShares26.08M22.60M20.75M20.53M
BasicAverageShares26.08M22.60M20.75M20.53M
DilutedEPS-2.04-2.65-1.99-2.02
BasicEPS-2.04-2.65-1.99-2.02
DilutedNIAvailtoComStockholders-53.31M-59.97M-41.20M-41.43M
NetIncomeCommonStockholders-53.31M-59.97M-41.20M-41.43M
NetIncome-53.31M-59.97M-41.20M-41.43M
NetIncomeIncludingNoncontrollingInterests-53.31M-59.97M-41.20M-41.43M
NetIncomeContinuousOperations-53.31M-59.97M-41.20M-41.43M
TaxProvision-18.00K55.00K147.00K109.00K
PretaxIncome-53.32M-59.91M-41.05M-41.32M
OtherIncomeExpense3.77M3.98M3.85M1.37M
OtherNonOperatingIncomeExpenses3.77M3.98M3.85M1.37M
NetNonOperatingInterestIncomeExpense-5.83M-4.40M-1.80M-165.00K
InterestExpenseNonOperating5.83M4.40M1.80M165.00K
OperatingIncome-51.27M-59.49M-43.10M-42.53M
OperatingExpense99.61M102.45M76.14M60.00M
ResearchAndDevelopment11.13M11.13M11.63M9.95M
SellingGeneralAndAdministration88.47M91.32M64.51M50.05M
GrossProfit48.34M42.96M33.04M17.47M
CostOfRevenue8.31M8.33M6.26M5.00M
TotalRevenue56.65M51.29M39.30M22.47M
OperatingRevenue56.65M51.29M39.30M22.47M
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber26.31M25.32M20.88M20.63M
ShareIssued26.31M25.32M20.88M20.63M
TotalDebt50.50M50.43M30.61M7.09M
TangibleBookValue39.32M71.06M75.95M109.18M
InvestedCapital88.84M120.33M105.17M115.93M
WorkingCapital88.33M119.05M104.23M114.79M
NetTangibleAssets39.32M71.06M75.95M109.18M
CapitalLeaseObligations990.00K1.16M1.39M339.00K
CommonStockEquity39.32M71.06M75.95M109.18M
TotalCapitalization88.84M120.33M105.17M115.93M
TotalEquityGrossMinorityInterest39.32M71.06M75.95M109.18M
StockholdersEquity39.32M71.06M75.95M109.18M
GainsLossesNotAffectingRetainedEarnings-203.00K-206.00K-207.00K-207.00K
OtherEquityAdjustments-203.00K-206.00K-207.00K-207.00K
RetainedEarnings-590.65M-537.35M-477.38M-436.18M
AdditionalPaidInCapital629.92M608.35M553.33M545.36M
CapitalStock263.00K253.00K209.00K207.00K
CommonStock263.00K253.00K209.00K207.00K
TotalLiabilitiesNetMinorityInterest65.47M62.36M39.28M15.76M
TotalNonCurrentLiabilitiesNetMinorityInterest52.15M51.60M31.42M7.67M
OtherNonCurrentLiabilities2.00M1.45M1.04M805.00K
PreferredSecuritiesOutsideStockEquity0.00
LongTermDebtAndCapitalLeaseObligation50.15M50.15M30.38M6.86M
LongTermCapitalLeaseObligation638.00K877.00K1.16M117.00K
LongTermDebt49.51M49.27M29.22M6.75M
CurrentLiabilities13.32M10.76M7.86M8.09M
CurrentDebtAndCapitalLeaseObligation352.00K282.00K231.00K222.00K
CurrentCapitalLeaseObligation352.00K282.00K231.00K222.00K
PensionandOtherPostRetirementBenefitPlansCurrent6.97M5.67M4.11M3.26M
PayablesAndAccruedExpenses6.00M4.81M3.53M4.60M
CurrentAccruedExpenses2.07M2.09M1.52M2.76M
InterestPayable403.00K437.00K220.00K0.00
Payables3.93M2.72M2.01M1.84M
TotalTaxPayable93.00K135.00K125.00K120.00K
AccountsPayable3.83M2.58M1.88M1.72M
TotalAssets104.79M133.41M115.23M124.94M
TotalNonCurrentAssets3.15M3.60M3.14M2.06M
OtherNonCurrentAssets26.00K27.00K27.00K27.00K
NetPPE3.12M3.57M3.11M2.03M
AccumulatedDepreciation-4.15M-3.41M-2.79M-2.28M
GrossPPE7.27M6.98M5.90M4.31M
Leases827.00K542.00K98.00K95.00K
ConstructionInProgress325.00K720.00K554.00K231.00K
OtherProperties4.41M4.21M4.07M3.02M
MachineryFurnitureEquipment1.71M1.51M1.18M968.00K
Properties0.000.000.000.00
CurrentAssets101.65M129.81M112.09M122.88M
OtherCurrentAssets3.07M2.50M2.99M4.22M
PrepaidAssets2.58M
Inventory12.21M12.11M10.98M6.96M
FinishedGoods3.10M4.90M5.62M3.53M
WorkInProcess473.00K353.00K654.00K1.03M
RawMaterials8.63M6.86M4.71M2.39M
Receivables10.66M9.27M7.55M5.50M
AccountsReceivable10.66M9.27M7.55M5.50M
AllowanceForDoubtfulAccountsReceivable-871.00K-780.00K-508.00K-679.00K
GrossAccountsReceivable11.54M10.05M8.06M6.18M
CashCashEquivalentsAndShortTermInvestments75.71M105.93M90.57M106.19M
CashAndCashEquivalents75.71M105.93M90.57M106.19M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-40.75M-40.51M-39.61M-43.36M
RepurchaseOfCapitalStock0.00-1.00K
RepaymentOfDebt0.00-21.30M
IssuanceOfDebt0.0020.00M22.50M7.50M
IssuanceOfCapitalStock8.97M32.52M0.000.00
CapitalExpenditure-580.00K-1.36M-591.00K-685.00K
InterestPaidSupplementalData5.04M3.61M1.40M59.00K
IncomeTaxPaidSupplementalData0.004.00K5.00K2.00K
EndCashPosition75.71M105.93M90.57M106.19M
BeginningCashPosition105.93M90.57M106.19M142.07M
EffectOfExchangeRateChanges5.00K-1.00K3.00K-9.00K
ChangesInCash-30.23M15.37M-15.63M-35.87M
FinancingCashFlow10.52M55.87M23.98M7.49M
CashFlowFromContinuingFinancingActivities10.52M55.87M23.98M7.49M
NetOtherFinancingCharges-152.00K-179.00K-778.00K
ProceedsFromStockOptionExercised1.55M3.50M1.66M771.00K
NetPreferredStockIssuance0.00
PreferredStockIssuance0.00
NetCommonStockIssuance8.97M32.52M0.000.00
CommonStockPayments0.00-1.00K
CommonStockIssuance8.97M32.52M0.000.00
NetIssuancePaymentsOfDebt0.0020.00M22.50M7.50M
NetLongTermDebtIssuance0.0020.00M22.50M7.50M
LongTermDebtPayments0.00-21.30M
LongTermDebtIssuance0.0020.00M22.50M7.50M
InvestingCashFlow-580.00K-1.36M-591.00K-685.00K
CashFlowFromContinuingInvestingActivities-580.00K-1.36M-591.00K-685.00K
NetPPEPurchaseAndSale-580.00K-1.36M-591.00K-685.00K
PurchaseOfPPE-580.00K-1.36M-591.00K-685.00K
OperatingCashFlow-40.17M-39.14M-39.02M-42.68M
CashFlowFromContinuingOperatingActivities-40.17M-39.14M-39.02M-42.68M
ChangeInWorkingCapital1.00M949.00K-4.80M-5.57M
ChangeInPayablesAndAccruedExpense3.04M3.26M-5.00K2.08M
ChangeInAccruedExpense1.79M2.56M-170.00K873.00K
ChangeInPayable1.25M698.00K165.00K1.21M
ChangeInAccountPayable1.25M698.00K165.00K1.21M
ChangeInPrepaidAssets-543.00K531.00K1.27M-1.63M
ChangeInInventory-98.00K-1.12M-4.03M-3.08M
ChangeInReceivables-1.40M-1.72M-2.05M-2.94M
ChangesInAccountReceivables-1.40M-1.72M-2.05M-2.94M
OtherNonCashItems241.00K203.00K154.00K25.00K
StockBasedCompensation11.05M19.05M6.30M3.89M
DepreciationAmortizationDepletion756.00K619.00K522.00K412.00K
DepreciationAndAmortization756.00K619.00K522.00K412.00K
Depreciation756.00K619.00K522.00K412.00K
OperatingGainsLosses86.00K4.00K14.62M
GainLossOnInvestmentSecurities13.29M
GainLossOnSaleOfPPE86.00K0.004.00K0.00
NetIncomeFromContinuingOperations-53.31M-59.97M-41.20M-41.43M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for CVRX
Date User Asset Broker Type Position Size Entry Price Patterns