CVRx is one of the best performing stocks out of Minnesota

CVRx’s Barostim Neo [Image courtesy of CVRx]CVRx (Nasdaq:CVRX) reached near the top of a list of Minnesota S&P 500 companies with best-performing stocks.

With a 71% return in 2023, CVRx was No. 4 among the Minnesota “Fantastic Four” stocks, according to an analysis in the Star Tribune of Minneapolis. For comparison, the S&P 500 was up 24%.

The maker of the Barostim neuromodulation system saw its stock rally strongly near the end of December after the FDA approved an expanded label for the implantable system, which delivers electrical pulses to baroreceptors in the carotid artery wall to reduce heart failure systems.

CVRx said at the time of the approval that new long-term safety and efficacy data, commercial experience, and a new reimbursement assignment for Barostim would boost its market opportunity to $2.2 billion and 76,000 new patients, up from the previous estimate of $1.4 billion and 55,000 new patients.

CVRx’s …

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Proto Labs stock dives on Q3 earnings miss

Proto Labs (NYSE:PRLB) stock dropped more than 18 percent after the digital manufacturing service provider reported third-quarter earnings that missed Wall Street’s expectations.

Maple Plain, Minnesota-based Proto Labs this morning reported earnings of $4.8 million (or 17¢ per share) off sales of $125.3 million. That’s a 67% decrease from Q3 2020’s earnings of $14.7 million (55¢ per share) off sales of $107.5 million.

Adjusted to exclude one-time items, earnings per share were 35¢, or 8¢ below Wall Street’s consensus forecast, where analysts were looking for adjusted EPS of 43¢ on sales of $127.3 million.

Get the full story on our sister site, Medical Design & Outsourcing.

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Proto Labs stock dives on Q3 earnings miss

Proto Labs (NYSE:PRLB) stock dropped more than 18% after the digital manufacturing service provider reported third-quarter earnings that missed Wall Street’s expectations.

Maple Plain, Minnesota–based Proto Labs this morning reported earnings of $4.8 million (or 17¢ per share) off sales of $125.3 million. That’s a 67% decrease from Q3 2020’s earnings of $14.7 million (55¢ per share) off sales of $107.5 million.

Adjusted to exclude one-time items, earnings per share were 35¢, or 8¢ below Wall Street’s consensus forecast, where analysts were looking for adjusted EPS of 43¢ on sales of $127.3 million.

“We achieved record revenue in the third quarter amidst a difficult backdrop of global supply chain issues and labor and materials constraints,” Proto Labs resident and CEO Rob Bodor said in a news release. “During the quarter, we also received external recognition of our best-in-class digital manufacturing capabilities as the World Economic Forum announced ou…

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