Corindus Vascular Robotics (CVRS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Corindus Vascular Robotics (NYSEAMERICAN:CVRS) from a sell rating to a hold rating in a report issued on Wednesday.

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. “

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Separately, Cowen set a $2.00 price target on Corindus Vascular Robotics and gave the stock a buy rating in a report on Thursday, March 15th.

Shares of Corindus Vascular Robotics opened at $0.80 on Wednesday, according to Marketbeat. Corindus Vascular Robotics has a 1-year low of $0.66 and a 1-year high of $2.25.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last issued its quarterly earnings results on Tuesday, May 8th. The medical equipment provider reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). Corindus Vascular Robotics had a negative return on equity of 110.93% and a negative net margin of 323.84%. The company had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $3.20 million.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Corindus Vascular Robotics by 4.6% in the 4th quarter. BlackRock Inc. now owns 4,384,539 shares of the medical equipment provider’s stock valued at $4,428,000 after acquiring an additional 191,134 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Corindus Vascular Robotics in the 4th quarter valued at about $2,189,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Corindus Vascular Robotics by 34.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 383,800 shares of the medical equipment provider’s stock valued at $584,000 after acquiring an additional 97,900 shares during the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of Corindus Vascular Robotics by 55.2% in the 4th quarter. Essex Investment Management Co. LLC now owns 1,238,664 shares of the medical equipment provider’s stock valued at $1,251,000 after acquiring an additional 440,601 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. purchased a new position in shares of Corindus Vascular Robotics in the 1st quarter valued at about $161,000.

Corindus Vascular Robotics Company Profile

Corindus Vascular Robotics, Inc designs, manufactures, and sells robotic-assisted precision vascular systems for use in interventional vascular procedures in the United States and internationally. The company offers CorPath system, a medical device with robotic-assisted precision for radial, coronary, and peripheral procedures.

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