Corindus Vascular Robotics Inc (CVRS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Corindus Vascular Robotics Inc (NYSEMKT:CVRS) from a hold rating to a buy rating in a report published on Friday. Zacks Investment Research currently has $1.75 price target on the medical equipment provider’s stock.

According to Zacks, “Corindus Vascular Robotics, Inc. is involved in designing, manufacturing and selling precision vascular robotic-assisted systems for interventional vascular procedures. The Company’s product includes CorPath 200 system a vascular robotic system which provide stent placement in percutaneous coronary intervention procedures. Corindus Vascular Robotics, Inc. is based in Waltham, Massachusetts. “

Several other brokerages have also recently issued reports on CVRS. ValuEngine cut Corindus Vascular Robotics from a hold rating to a sell rating in a report on Monday, July 17th. BidaskClub cut Corindus Vascular Robotics from a hold rating to a sell rating in a report on Friday, September 8th. Finally, Cowen and Company set a $3.00 target price on Corindus Vascular Robotics and gave the company a buy rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $2.58.

Shares of Corindus Vascular Robotics (NYSEMKT:CVRS) opened at 1.58 on Friday. The company has a 50-day moving average price of $1.67 and a 200-day moving average price of $1.45. Corindus Vascular Robotics has a 12 month low of $0.40 and a 12 month high of $2.25. The company’s market capitalization is $295.93 million.

Corindus Vascular Robotics (NYSEMKT:CVRS) last issued its earnings results on Tuesday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $2.26 million during the quarter, compared to analysts’ expectations of $3.10 million. Corindus Vascular Robotics had a negative return on equity of 94.27% and a negative net margin of 372.63%. On average, analysts forecast that Corindus Vascular Robotics will post ($0.21) EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Corindus Vascular Robotics by 57.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,279,185 shares of the medical equipment provider’s stock valued at $6,100,000 after buying an additional 1,198,384 shares in the last quarter. Northern Trust Corp grew its holdings in Corindus Vascular Robotics by 42.4% in the 2nd quarter. Northern Trust Corp now owns 959,920 shares of the medical equipment provider’s stock valued at $1,786,000 after buying an additional 285,811 shares in the last quarter. State Street Corp grew its holdings in shares of Corindus Vascular Robotics by 44.3% during the 2nd quarter. State Street Corp now owns 926,439 shares of the medical equipment provider’s stock worth $1,724,000 after purchasing an additional 284,507 shares during the period. Geode Capital Management LLC grew its holdings in shares of Corindus Vascular Robotics by 73.3% during the 1st quarter. Geode Capital Management LLC now owns 673,488 shares of the medical equipment provider’s stock worth $882,000 after purchasing an additional 284,855 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Corindus Vascular Robotics by 240.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 285,900 shares of the medical equipment provider’s stock worth $375,000 after purchasing an additional 201,900 shares during the period.

About Corindus Vascular Robotics

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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