Lake Street notes that CMS hosted an advisory panel meeting earlier today on hospital outpatient payment, including a Neurostimulation and Related Services APC Series, during which there were public presentations for CVRx (CVRX), ZOLL Respicardia, and LivaNova (LIVN). During the event, the CMS panel voted unanimously in favor of two motions that the firm believes are positive for CVRx, namely voting in favor of creating a new level 6 APC and voting in favor of reimbursing under APC 1580 for 2025, the analyst tells investors. The firm, which believes shares should be purchased in front of the final decision in November for calendar year 2025 reimbursement and believes shares are “still too cheap,” reiterates a Buy rating and $12 price target on CVRx.
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