Corindus Vascular Robotics Inc (NYSEMKT:CVRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $2.00 target price on the medical equipment provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 22.70% from the company’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. “

A number of other research firms have also weighed in on CVRS. B. Riley reaffirmed a “buy” rating and set a $3.00 price target 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. BidaskClub lowered shares of Corindus Vascular Robotics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Cowen and Company set a $3.00 price target 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 issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $2.67.

Corindus Vascular Robotics (NYSEMKT CVRS) traded down 5.23% during mid-day trading on Thursday, reaching $1.63. The company’s stock had a trading volume of 792,914 shares. The stock has a 50-day moving average price of $1.70 and a 200-day moving average price of $1.42. Corindus Vascular Robotics has a one year low of $0.40 and a one year high of $2.25. The company’s market capitalization is $305.29 million.

Corindus Vascular Robotics (NYSEMKT:CVRS) last issued its earnings results on Tuesday, August 8th. The medical equipment provider reported ($0.04) EPS 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 business had revenue of $2.26 million for the quarter, compared to the consensus estimate of $3.10 million. Equities research analysts forecast that Corindus Vascular Robotics will post ($0.21) EPS for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in Corindus Vascular Robotics by 147.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 58,824 shares of the medical equipment provider’s stock worth $109,000 after acquiring an additional 35,086 shares in the last quarter. Rhumbline Advisers grew its holdings in Corindus Vascular Robotics by 67.6% during the 2nd quarter. Rhumbline Advisers now owns 80,868 shares of the medical equipment provider’s stock worth $150,000 after acquiring an additional 32,608 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Corindus Vascular Robotics by 334.6% during the 2nd quarter. New York State Common Retirement Fund now owns 89,100 shares of the medical equipment provider’s stock worth $166,000 after acquiring an additional 68,599 shares in the last quarter. California State Teachers Retirement System grew its holdings in Corindus Vascular Robotics by 34.4% during the 2nd quarter. California State Teachers Retirement System now owns 148,558 shares of the medical equipment provider’s stock worth $276,000 after acquiring an additional 38,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Corindus Vascular Robotics by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 163,012 shares of the medical equipment provider’s stock worth $214,000 after acquiring an additional 9,684 shares in 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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