Zacks Investment Research upgraded shares of Corindus Vascular Robotics Inc (NYSEMKT:CVRS) from a hold rating to a buy rating in a report published on Tuesday morning. The brokerage currently has $2.00 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. “

CVRS has been the topic of several other research reports. BidaskClub downgraded shares of Corindus Vascular Robotics from a hold rating to a sell rating in a report on Wednesday, August 16th. B. Riley reaffirmed a buy rating and issued a $3.00 target price on shares of Corindus Vascular Robotics in a report on Wednesday, May 10th. ValuEngine raised shares of 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 target price on shares of Corindus Vascular Robotics and gave the company a buy rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $2.67.

Corindus Vascular Robotics (NYSEMKT CVRS) opened at 1.88 on Tuesday. Corindus Vascular Robotics has a 12-month low of $0.40 and a 12-month high of $2.25. The stock’s 50 day moving average price is $1.70 and its 200 day moving average price is $1.34. The company’s market capitalization is $352.12 million.

Corindus Vascular Robotics (NYSEMKT:CVRS) last issued its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Corindus Vascular Robotics had a negative net margin of 1,272.20% and a negative return on equity of 181.63%. The company had revenue of $2.26 million for the quarter, compared to the consensus estimate of $3.10 million. On average, equities analysts anticipate that Corindus Vascular Robotics will post ($0.21) EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of CVRS. 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 last quarter. 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 last quarter. 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 last quarter. 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 last quarter. Finally, 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 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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