Corindus Vascular Robotics (CVRS) Downgraded by Zacks Investment Research to “Hold”

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

CVRS has been the topic of several other research reports. BidaskClub lowered shares of Corindus Vascular Robotics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 11th. ValuEngine lowered shares of Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.33.

Shares of Corindus Vascular Robotics (NYSEAMERICAN CVRS) traded down $0.02 during trading hours on Friday, hitting $1.03. 212,712 shares of the company’s stock traded hands, compared to its average volume of 290,233. Corindus Vascular Robotics has a 12 month low of $0.40 and a 12 month high of $2.25. The firm has a market capitalization of $198.14, a price-to-earnings ratio of -4.29 and a beta of 19.49.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last announced its quarterly earnings results on Tuesday, November 7th. The medical equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Corindus Vascular Robotics had a negative net margin of 323.84% and a negative return on equity of 110.93%. The company had revenue of $2.43 million for the quarter, compared to analyst estimates of $3.60 million.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in shares of Corindus Vascular Robotics by 34.2% during the third 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 period. Essex Investment Management Co. LLC acquired a new position in shares of Corindus Vascular Robotics during the third quarter valued at approximately $1,213,000. California State Teachers Retirement System increased its stake in shares of Corindus Vascular Robotics by 34.4% during the second quarter. California State Teachers Retirement System now owns 148,558 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 38,000 shares during the period. State Street Corp increased its stake in shares of Corindus Vascular Robotics by 44.3% during the second quarter. State Street Corp now owns 926,439 shares of the medical equipment provider’s stock valued at $1,724,000 after acquiring an additional 284,507 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Corindus Vascular Robotics by 147.8% during the second quarter. Goldman Sachs Group Inc. now owns 58,824 shares of the medical equipment provider’s stock valued at $109,000 after acquiring an additional 35,086 shares during the period.

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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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