Corindus Vascular Robotics Inc (CVRS) Lifted to “Buy” at Zacks Investment Research
Corindus Vascular Robotics Inc (NYSEMKT:CVRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $2.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.73% from the stock’s current price.
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 a number of other reports. ValuEngine upgraded Corindus Vascular Robotics from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. B. Riley upgraded Corindus Vascular Robotics to a “buy” rating and set a $3.00 price target on the stock in a research note on Wednesday, March 22nd.
Shares of Corindus Vascular Robotics (CVRS) remained flat at $1.79 during mid-day trading on Tuesday. The company’s stock had a trading volume of 321,662 shares. 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 $334.87 million. The firm has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.04.
Corindus Vascular Robotics (NYSEMKT:CVRS) last issued its earnings results on Tuesday, May 9th. The medical equipment provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.02. Corindus Vascular Robotics had a negative net margin of 1,272.20% and a negative return on equity of 181.63%. The business had revenue of $0.78 million for the quarter, compared to analysts’ expectations of $1.59 million. Equities analysts predict that Corindus Vascular Robotics will post ($0.22) EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased 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 worth $214,000 after buying an additional 9,684 shares during the period. Schwab Charles Investment Management Inc. increased its position in Corindus Vascular Robotics by 240.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 285,900 shares of the medical equipment provider’s stock worth $375,000 after buying an additional 201,900 shares during the period. Finally, Geode Capital Management LLC increased its position in Corindus Vascular Robotics by 73.3% in the first quarter. Geode Capital Management LLC now owns 673,488 shares of the medical equipment provider’s stock worth $882,000 after buying an additional 284,855 shares during the period.
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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