CVRx (CVRX) Soars 5.6%: Is Further Upside Left in the Stock?

CVRx CVRX shares rallied 5.6% in the last trading session to close at $7.02. 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 16.1% gain over the past four weeks.

CVRx scored a strong price rise on investors’ optimism surrounding its Barostim device, which provides a treatment option for heart failure patients with reduced ejection fraction. The Barostim device utilizes autonomic stimulation to significantly improve symptoms of heart failure. It is also supported by robust clinical evidence from the pivotal BeAT-HF trial. Recently, the Barostim device had been successfully implanted at the Albany Medical Center.

This medical device company is expected to post quarterly loss of $0.54 per share in its upcoming report, which represents a year-over-year change of +98.9%. Revenues are expected to be $4.71 million, up 50.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

CVRx is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Tandem Diabetes Care, Inc. TNDM, finished the last trading session 4.8% higher at $61.52. TNDM has returned -12.8% over the past month.

For Tandem Diabetes Care, Inc. , the consensus EPS estimate for the upcoming report has changed -30% over the past month to $0.03. This represents a change of -50% from what the company reported a year ago. Tandem Diabetes Care, Inc. currently has a Zacks Rank of #3 (Hold).

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