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CVRx (CVRX) Surges 19.0%: Is This an Indication of Further Gains?
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CVRx (CVRX - Free Report) shares ended the last trading session 19% higher at $8.45. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 25.4% gain over the past four weeks.
CVRx recorded a strong price rise on investors’ optimism after the Centers for Medicare and Medicaid Services (CMS) has proposed to keep its Barostim implant procedure as part of the New Technology Ambulatory Payment Classification (APC) 1580. The proposal includes an associated payment of approximately $45,000 for procedures performed in the outpatient setting.
This medical device company is expected to post quarterly loss of $0.52 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $13.46 million, up 14% 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 belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, InspireMD, Inc. (NSPR - Free Report) , closed the last trading session 1.7% higher at $2.34. Over the past month, NSPR has returned -4.6%.
For InspireMD, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.24. This represents a change of -9.1% from what the company reported a year ago. InspireMD currently has a Zacks Rank of #3 (Hold).
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CVRx (CVRX) Surges 19.0%: Is This an Indication of Further Gains?
CVRx (CVRX - Free Report) shares ended the last trading session 19% higher at $8.45. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 25.4% gain over the past four weeks.
CVRx recorded a strong price rise on investors’ optimism after the Centers for Medicare and Medicaid Services (CMS) has proposed to keep its Barostim implant procedure as part of the New Technology Ambulatory Payment Classification (APC) 1580. The proposal includes an associated payment of approximately $45,000 for procedures performed in the outpatient setting.
This medical device company is expected to post quarterly loss of $0.52 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $13.46 million, up 14% 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CVRx belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, InspireMD, Inc. (NSPR - Free Report) , closed the last trading session 1.7% higher at $2.34. Over the past month, NSPR has returned -4.6%.
For InspireMD, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.24. This represents a change of -9.1% from what the company reported a year ago. InspireMD currently has a Zacks Rank of #3 (Hold).