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CVRx (CVRX) Moves 7.1% Higher: Will This Strength Last?
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CVRx (CVRX - Free Report) shares rallied 7.1% in the last trading session to close at $21.92. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 50.3% gain over the past four weeks.
CVRx scored a strong price increase, on investors’ optimism surrounding the company’s recent presentation at the 35th Annual Piper Sandler Healthcare Conference, held on Nov 29, 2023. Last month, the company’s Barostim implant procedure has been reassigned by the Centers for Medicare and Medicaid Services (CMS) for procedures performed in the outpatient setting as part of the 2024 Medicare Hospital Outpatient Prospective Payment System final rule. This might have boosted further confidence in the stock.
This medical device company is expected to post quarterly loss of $0.55 per share in its upcoming report, which represents a year-over-year change of -7.8%. Revenues are expected to be $10.84 million, up 50.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For CVRx, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CVRX going forward to see if this recent jump can turn into more strength down the road.
CVRx is part of the Zacks Medical - Instruments industry. AngioDynamics (ANGO - Free Report) , another stock in the same industry, closed the last trading session 5.1% higher at $6.86. ANGO has returned 0.6% in the past month.
AngioDynamics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. Compared to the company's year-ago EPS, this represents a change of -1500%. AngioDynamics currently boasts a Zacks Rank of #3 (Hold).
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CVRx (CVRX) Moves 7.1% Higher: Will This Strength Last?
CVRx (CVRX - Free Report) shares rallied 7.1% in the last trading session to close at $21.92. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 50.3% gain over the past four weeks.
CVRx scored a strong price increase, on investors’ optimism surrounding the company’s recent presentation at the 35th Annual Piper Sandler Healthcare Conference, held on Nov 29, 2023. Last month, the company’s Barostim implant procedure has been reassigned by the Centers for Medicare and Medicaid Services (CMS) for procedures performed in the outpatient setting as part of the 2024 Medicare Hospital Outpatient Prospective Payment System final rule. This might have boosted further confidence in the stock.
This medical device company is expected to post quarterly loss of $0.55 per share in its upcoming report, which represents a year-over-year change of -7.8%. Revenues are expected to be $10.84 million, up 50.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For CVRx, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CVRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CVRx is part of the Zacks Medical - Instruments industry. AngioDynamics (ANGO - Free Report) , another stock in the same industry, closed the last trading session 5.1% higher at $6.86. ANGO has returned 0.6% in the past month.
AngioDynamics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. Compared to the company's year-ago EPS, this represents a change of -1500%. AngioDynamics currently boasts a Zacks Rank of #3 (Hold).