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

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 brokerages have also weighed in on CVRS. ValuEngine lowered Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub lowered Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. Finally, Cowen and Company set a $3.00 target price on Corindus Vascular Robotics and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.67.

Shares of Corindus Vascular Robotics (NYSEMKT:CVRS) opened at 1.52 on Wednesday. The stock’s market cap is $284.69 million. Corindus Vascular Robotics has a 52-week low of $0.40 and a 52-week high of $2.25. The firm has a 50-day moving average price of $1.67 and a 200-day moving average price of $1.45.

Corindus Vascular Robotics (NYSEMKT:CVRS) last posted its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Corindus Vascular Robotics had a negative return on equity of 94.27% and a negative net margin of 372.63%. The business had revenue of $2.26 million for the quarter, compared to analysts’ expectations of $3.10 million. On average, analysts anticipate that Corindus Vascular Robotics will post ($0.21) EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in 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 purchasing an additional 9,684 shares during the period. Rhumbline Advisers raised its position in 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 purchasing an additional 32,608 shares during the period. Goldman Sachs Group Inc. raised its position in 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 period. California State Teachers Retirement System raised its position in 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 period. Finally, New York State Common Retirement Fund raised its position in 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 purchasing an additional 68,599 shares during the period.

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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