CVRx (CVRX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst William Plovanic from Canaccord Genuity maintained a Buy rating on the stock and has a $10.00 price target.
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William Plovanic has given his Buy rating due to a combination of factors that suggest potential growth and recovery for CVRx. Despite a challenging first quarter, which was impacted by significant changes in the salesforce, the company has taken steps to address these disruptions. The restructuring of the sales team, including hiring new talent with relevant experience, is expected to stabilize and enhance sales performance over the next six to twelve months.
Moreover, the upcoming reimbursement proposal decision from CMS in July could serve as a significant catalyst for CVRx, potentially removing a long-standing obstacle and positioning the company for future success. Management’s confidence in achieving 8%-10% growth each quarter, along with the strategic focus on sustainable growth in supportive accounts, underpins Plovanic’s positive outlook. These elements contribute to the maintained Buy rating and the $10 price target for CVRx.
CVRX’s price has also changed dramatically for the past six months – from $14.200 to $5.440, which is a -61.69% drop .