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

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 equities analysts have also recently issued reports on CVRS. B. Riley reiterated a “buy” rating and issued a $3.00 price objective on shares of Corindus Vascular Robotics in a research note on Monday, May 15th. BidaskClub upgraded Corindus Vascular Robotics from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Cowen and Company set a $3.00 price objective on Corindus Vascular Robotics and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, ValuEngine upgraded Corindus Vascular Robotics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Corindus Vascular Robotics presently has an average rating of “Buy” and a consensus price target of $2.67.

Corindus Vascular Robotics (NYSEMKT CVRS) opened at 1.88 on Monday. The company’s market capitalization is $352.12 million. The company has a 50 day moving average of $1.70 and a 200 day moving average of $1.34. Corindus Vascular Robotics has a 52 week low of $0.40 and a 52 week high of $2.25.

Corindus Vascular Robotics (NYSEMKT:CVRS) last announced its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business 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 181.63% and a negative net margin of 1,272.20%. On average, equities analysts forecast that Corindus Vascular Robotics will post ($0.21) EPS for the current fiscal year.

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Large investors have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Corindus Vascular Robotics by 34.4% in 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 buying an additional 38,000 shares during the period. State Street Corp raised its stake in shares of Corindus Vascular Robotics by 44.3% in the second quarter. State Street Corp now owns 926,439 shares of the medical equipment provider’s stock valued at $1,724,000 after buying an additional 284,507 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Corindus Vascular Robotics by 147.8% in the second quarter. Goldman Sachs Group Inc. now owns 58,824 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 35,086 shares during the period. Vanguard Group Inc. raised its stake in shares of Corindus Vascular Robotics by 57.6% in the second 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 during the period. Finally, Northern Trust Corp raised its stake in shares of Corindus Vascular Robotics by 42.4% in the second 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 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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