Corindus Vascular Robotics (CVRS) Stock Price Down 6.7%

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) shares dropped 6.7% during trading on Friday . The stock traded as low as $1.25 and last traded at $1.25. Approximately 670,533 shares changed hands during trading, a decline of 28% from the average daily volume of 926,262 shares. The stock had previously closed at $1.34.

Several brokerages have weighed in on CVRS. Zacks Investment Research downgraded Corindus Vascular Robotics from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Cowen set a $2.00 target price on Corindus Vascular Robotics and gave the company a “buy” rating in a research note on Thursday, March 15th. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Corindus Vascular Robotics currently has an average rating of “Hold” and an average target price of $2.00.

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Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last posted its earnings results on Wednesday, March 14th. The medical equipment provider reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $4.19 million for the quarter, compared to the consensus estimate of $3.90 million. Corindus Vascular Robotics had a negative return on equity of 110.93% and a negative net margin of 323.84%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVRS. Deutsche Bank AG raised its holdings in shares of Corindus Vascular Robotics by 91.6% in the fourth quarter. Deutsche Bank AG now owns 250,179 shares of the medical equipment provider’s stock worth $251,000 after acquiring an additional 119,611 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of 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 worth $276,000 after acquiring an additional 38,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Corindus Vascular Robotics by 34.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 383,800 shares of the medical equipment provider’s stock worth $584,000 after acquiring an additional 97,900 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of Corindus Vascular Robotics by 55.2% in the fourth quarter. Essex Investment Management Co. LLC now owns 1,238,664 shares of the medical equipment provider’s stock worth $1,251,000 after acquiring an additional 440,601 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Corindus Vascular Robotics by 44.3% in the second quarter. State Street Corp now owns 926,439 shares of the medical equipment provider’s stock worth $1,724,000 after acquiring an additional 284,507 shares during the last quarter.

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Corindus Vascular Robotics Company Profile

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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