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

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 equities research analysts have also recently commented on the company. ValuEngine cut Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub cut Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. Finally, Cowen and Company set a $3.00 price target on Corindus Vascular Robotics and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $2.58.

Corindus Vascular Robotics (CVRS) traded up 2.78% during trading on Tuesday, reaching $1.48. 408,009 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $1.61 and a 200-day moving average of $1.50. The stock’s market capitalization is $277.20 million. Corindus Vascular Robotics has a 52 week low of $0.40 and a 52 week high of $2.25.

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 for the quarter, beating the Zacks’ 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 company had revenue of $2.26 million during the quarter, compared to analysts’ expectations of $3.10 million. On average, equities research analysts anticipate that Corindus Vascular Robotics will post ($0.21) EPS for the current year.

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Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings 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 last quarter. Rhumbline Advisers boosted its stake in shares of Corindus Vascular Robotics by 67.6% during the second quarter. Rhumbline Advisers now owns 80,868 shares of the medical equipment provider’s stock valued at $150,000 after acquiring an additional 32,608 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Corindus Vascular Robotics by 334.6% during 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 acquiring an additional 68,599 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Corindus Vascular Robotics by 6.3% during 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 acquiring an additional 9,684 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Corindus Vascular Robotics by 34.4% during 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 acquiring an additional 38,000 shares during the last quarter.

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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