Zacks Investment Research downgraded shares of Corindus Vascular Robotics Inc (NYSEMKT:CVRS) from a buy rating to a hold rating in a report published on Monday morning.

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. “

Other research analysts have also recently issued research reports about the company. B. Riley reaffirmed a buy rating and issued a $3.00 price target on shares of Corindus Vascular Robotics in a report on Monday, May 15th. BidaskClub raised Corindus Vascular Robotics from a sell rating to a hold rating in a report on Friday, August 25th. ValuEngine raised Corindus Vascular Robotics from a sell rating to a hold rating in a report on Thursday, June 22nd. Finally, Cowen and Company set a $3.00 price target on Corindus Vascular Robotics and gave the company a buy rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $2.67.

Shares of Corindus Vascular Robotics (NYSEMKT CVRS) opened at 1.85 on Monday. The firm’s market capitalization is $346.50 million. The stock has a 50 day moving average price of $1.70 and a 200-day moving average price 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 posted its quarterly 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 for 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, analysts anticipate that Corindus Vascular Robotics will post ($0.21) EPS for the current year.

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A number of 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. Goldman Sachs Group Inc. increased 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. California State Teachers Retirement System increased 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. Finally, 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.

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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