Zacks Investment Research upgraded shares of Corindus Vascular Robotics Inc (NYSEMKT:CVRS) from a hold rating to a buy rating in a research note issued to investors on Friday morning. The firm currently has $1.75 target price 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. “

CVRS has been the subject of several other research reports. BidaskClub cut shares of Corindus Vascular Robotics from a hold rating to a sell rating in a research note on Wednesday, August 16th. ValuEngine raised shares of Corindus Vascular Robotics from a sell rating to a hold rating in a research note on Thursday, June 22nd. Finally, Cowen and Company set a $3.00 price objective on shares of Corindus Vascular Robotics and gave the company a buy rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $2.58.

Shares of Corindus Vascular Robotics (CVRS) traded up 3.27% on Friday, hitting $1.58. 1,664,821 shares of the company’s stock were exchanged. Corindus Vascular Robotics has a 12 month low of $0.40 and a 12 month high of $2.25. The firm’s market cap is $295.93 million. The stock’s 50 day moving average is $1.67 and its 200 day moving average is $1.45.

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 consensus estimate of ($0.05) by $0.01. Corindus Vascular Robotics had a negative net margin of 372.63% and a negative return on equity of 94.27%. The company had revenue of $2.26 million for the quarter, compared to analyst estimates of $3.10 million. On average, equities analysts predict that Corindus Vascular Robotics will post ($0.21) earnings per share for the current year.

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A number of large investors have recently modified their holdings of CVRS. Bank of New York Mellon Corp grew its stake in Corindus Vascular Robotics by 6.3% during 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 acquiring an additional 9,684 shares in the last quarter. Geode Capital Management LLC grew its stake in Corindus Vascular Robotics by 73.3% during the first quarter. Geode Capital Management LLC now owns 673,488 shares of the medical equipment provider’s stock valued at $882,000 after acquiring an additional 284,855 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Corindus Vascular Robotics by 240.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 285,900 shares of the medical equipment provider’s stock valued at $375,000 after acquiring an additional 201,900 shares in the last quarter. Rhumbline Advisers grew its stake in Corindus Vascular Robotics by 67.6% during the second quarter. Rhumbline Advisers now owns 80,868 shares of the medical equipment provider’s stock valued at $150,000 after acquiring an additional 32,608 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in Corindus Vascular Robotics by 184.7% during the second quarter. Teachers Advisors LLC now owns 167,633 shares of the medical equipment provider’s stock valued at $312,000 after acquiring an additional 108,745 shares in the last quarter.

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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