Canaccord Genuity analyst William Plovanic has maintained their bullish stance on CVRX stock, giving a Buy rating yesterday.
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William Plovanic has given his Buy rating due to a combination of factors related to CVRx’s recent real-world data presentation. The company demonstrated significant reductions in hospitalizations and length of stay for patients after the Barostim implantation, which were presented at the THT conference. These findings are crucial as they provide evidence of Barostim’s benefits beyond improving quality of life, which was not apparent in their earlier large randomized BeAT-HF trial due to the challenges posed by the pandemic.
Additionally, CVRx’s use of the Premier Healthcare Database to assess hospital visit reductions showed remarkable results, including an 86% reduction in all-cause visits and an 85% reduction in heart-failure visits. Furthermore, a separate single-center data presentation highlighted a 57% reduction in hospitalizations and reduced diuretic needs among patients post-implant. These positive outcomes support the potential for Barostim to gain increased acceptance among heart failure physicians, enhancing CVRx’s market position.
Plovanic covers the Healthcare sector, focusing on stocks such as TransMedics Group, Nevro Corp, and CVRx. According to TipRanks, Plovanic has an average return of 3.4% and a 46.74% success rate on recommended stocks.