Zacks Investment Research upgraded shares of Corindus Vascular Robotics Inc (NYSEMKT:CVRS) from a hold rating to a buy rating in a report released on Monday morning. They currently have $1.00 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. “

Several other analysts have also issued reports on CVRS. BidaskClub raised shares of Corindus Vascular Robotics from a sell rating to a hold rating in a research report on Friday, August 25th. ValuEngine lowered shares of Corindus Vascular Robotics from a hold rating to a sell rating in a research report on Monday, July 17th. Finally, Cowen and Company set a $3.00 price target on shares of Corindus Vascular Robotics and gave the stock a buy rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $2.33.

Shares of Corindus Vascular Robotics (NYSEMKT:CVRS) traded down $0.06 on Monday, reaching $0.79. 863,759 shares of the company’s stock were exchanged, compared to its average volume of 849,480. Corindus Vascular Robotics has a 1 year low of $0.40 and a 1 year high of $2.25.

Corindus Vascular Robotics (NYSEMKT:CVRS) last announced its quarterly earnings results on Tuesday, November 7th. The medical equipment provider reported ($0.04) earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $2.43 million for the quarter, compared to analyst estimates of $3.60 million.

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Several large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. increased its holdings in shares of Corindus Vascular Robotics by 34.2% in 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 purchasing an additional 97,900 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Corindus Vascular Robotics in the third quarter valued at $1,213,000. California State Teachers Retirement System increased its holdings 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 purchasing an additional 38,000 shares during the last quarter. State Street Corp increased its holdings 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 purchasing an additional 284,507 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings 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 purchasing an additional 35,086 shares during the last quarter.

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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