CVRx CVRX shares ended the last trading session 17.2% higher at $9.49. 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 12.4% loss over the past four weeks.

CVRx scored a strong price increase driven by the optimism surrounding the company’s announcement regarding the acceptance of Current Procedural Terminology ("CPT") Category I codes for baroreflex activation therapy (“Barostim”) by the American Medical Association ("AMA") CPT Editorial Panel. Barostim is used for treating the symptoms of heart failure. Additionally, market is also positive about the company's impending third-quarter earnings release, scheduled on Oct. 29, 2024. 

This medical device company is expected to post quarterly loss of $0.45 per share in its upcoming report, which represents a year-over-year change of -4.7%. Revenues are expected to be $13.28 million, up 26.4% 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, EDAP TMS S.A. EDAP, finished the last trading session 2.3% higher at $2.71. EDAP has returned -13.1% over the past month.

For EDAP TMS , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.16. This represents a change of -33.3% from what the company reported a year ago. EDAP TMS currently has a Zacks Rank of #4 (Sell).

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