Cowen and Company Analysts Give Corindus Vascular Robotics Inc (CVRS) a $3.00 Price Target

Cowen and Company set a $3.00 target price on Corindus Vascular Robotics Inc (NYSEMKT:CVRS) in a research report released on Wednesday morning. The brokerage currently has a buy rating on the medical equipment provider’s stock.

A number of other analysts also recently weighed in on CVRS. B. Riley reaffirmed a buy rating and issued a $3.00 target price on shares of Corindus Vascular Robotics in a research report on Monday, May 15th. BidaskClub raised shares of Corindus Vascular Robotics from a sell rating to a hold rating in a research report on Thursday. ValuEngine downgraded shares of Corindus Vascular Robotics from a hold rating to a sell rating in a research report on Monday, July 17th. Finally, Zacks Investment Research raised shares of Corindus Vascular Robotics from a sell rating to a hold rating in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $2.67.

Corindus Vascular Robotics (CVRS) opened at 1.57 on Wednesday. The firm has a 50 day moving average of $1.78 and a 200-day moving average of $1.26. The company’s market capitalization is $294.05 million. Corindus Vascular Robotics has a 1-year low of $0.40 and a 1-year high of $2.25.

Corindus Vascular Robotics (NYSEMKT:CVRS) last released its earnings results on Tuesday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $2.26 million for the quarter, compared to the consensus estimate of $3.10 million. Corindus Vascular Robotics had a negative net margin of 1,272.20% and a negative return on equity of 181.63%. On average, equities research analysts anticipate that Corindus Vascular Robotics will post ($0.21) earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Corindus Vascular Robotics by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 163,012 shares of the medical equipment provider’s stock valued at $214,000 after buying an additional 9,684 shares during the period. Rhumbline Advisers increased its stake in shares of Corindus Vascular Robotics by 67.6% in the second quarter. Rhumbline Advisers now owns 80,868 shares of the medical equipment provider’s stock valued at $150,000 after buying an additional 32,608 shares during the period. New York State Common Retirement Fund increased its stake in shares of Corindus Vascular Robotics by 334.6% in the second quarter. New York State Common Retirement Fund now owns 89,100 shares of the medical equipment provider’s stock valued at $166,000 after buying an additional 68,599 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Corindus Vascular Robotics by 74.5% in the second quarter. TIAA CREF Investment Management LLC now owns 225,233 shares of the medical equipment provider’s stock valued at $419,000 after buying an additional 96,156 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of Corindus Vascular Robotics by 184.7% in the second quarter. Teachers Advisors LLC now owns 167,633 shares of the medical equipment provider’s stock valued at $312,000 after buying an additional 108,745 shares during the period.

Corindus Vascular Robotics Company Profile

Corindus Vascular Robotics, Inc is engaged in robotic-assisted vascular interventions. The Company’s CorPath System is a medical device that brings robotic-assisted precision to radial, coronary and peripheral procedures. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries.

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