Canaccord Genuity analyst William Plovanic has maintained their bullish stance on CVRX stock, giving a Buy rating today.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
William Plovanic has given his Buy rating due to a combination of factors that indicate a positive outlook for CVRx. One of the key reasons is the company’s strong revenue performance in Q4/24, which exceeded expectations and is indicative of effective sales execution. The management team has shown a commitment to expanding the salesforce and strengthening market development efforts, focusing on increasing the utilization of their Barostim device. This strategic focus aims to build sustainable programs in centers that can drive significant volumes, further enhancing the company’s market presence.
Additionally, Plovanic notes that CVRx’s proactive approach in engaging with key stakeholders, such as referral networks and advanced practice providers, is likely to bolster awareness and adoption of their technology. Despite uncertainties around outpatient reimbursement, the company’s efforts to secure a level 6 neurostimulation code and positive panel decisions mitigate these risks. With the management’s clear guidance and projected revenue growth for FY25, Plovanic remains confident in CVRx’s potential, justifying the Buy rating and an adjusted price target of $23.
According to TipRanks, Plovanic is a 4-star analyst with an average return of 3.9% and a 47.06% success rate. Plovanic covers the Healthcare sector, focusing on stocks such as Nevro Corp, TransMedics Group, and Insulet.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $20.00 price target.