Corindus Vascular Robotics Inc (NYSEAMERICAN:CVRS) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 14,272,499 shares, a drop of 1.6% from the August 15th total of 14,503,763 shares. Based on an average daily volume of 436,834 shares, the days-to-cover ratio is presently 32.7 days. Currently, 17.5% of the shares of the stock are sold short.

In other news, Director Louis A. Cannon acquired 31,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $0.96 per share, with a total value of $29,760.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louis A. Cannon acquired 30,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were purchased at an average cost of $1.02 per share, with a total value of $30,600.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 91,000 shares of company stock valued at $90,060.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in Corindus Vascular Robotics by 91.6% during the fourth quarter. Deutsche Bank AG now owns 250,179 shares of the medical equipment provider’s stock worth $251,000 after buying an additional 119,611 shares during the period. LMR Partners LLP purchased a new stake in shares of Corindus Vascular Robotics during the second quarter valued at $218,000. Millennium Management LLC boosted its stake in shares of Corindus Vascular Robotics by 12.8% during the first quarter. Millennium Management LLC now owns 2,444,944 shares of the medical equipment provider’s stock valued at $3,350,000 after purchasing an additional 277,336 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Corindus Vascular Robotics by 245.0% during the first quarter. The Manufacturers Life Insurance Company now owns 89,025 shares of the medical equipment provider’s stock valued at $122,000 after purchasing an additional 63,217 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Corindus Vascular Robotics by 164.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 569,466 shares of the medical equipment provider’s stock valued at $470,000 after purchasing an additional 354,486 shares during the period.

Several research analysts have commented on the stock. Stifel Nicolaus lowered shares of Corindus Vascular Robotics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $3.00 to $1.00 in a research note on Wednesday, August 8th. Zacks Investment Research lowered shares of Corindus Vascular Robotics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Corindus Vascular Robotics in a research note on Monday, May 21st. They set a “buy” rating and a $2.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $1.50.

NYSEAMERICAN CVRS opened at $1.21 on Friday. Corindus Vascular Robotics has a 52 week low of $0.66 and a 52 week high of $1.70.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last posted its quarterly earnings data on Tuesday, August 7th. The medical equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $3.00 million. Corindus Vascular Robotics had a negative return on equity of 110.93% and a negative net margin of 323.84%.

About Corindus Vascular Robotics

Corindus Vascular Robotics, Inc designs, manufactures, and sells robotic-assisted precision vascular systems for use in interventional vascular procedures in the United States and internationally. The company offers CorPath system, a medical device with robotic-assisted precision for radial, coronary, and peripheral procedures.

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