Corindus Vascular Robotics (CVRS) Upgraded to Buy at Zacks Investment Research

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Corindus Vascular Robotics (NYSEAMERICAN:CVRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $1.50 target price on the medical equipment provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.64% 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. “

Separately, Stifel Nicolaus cut Corindus Vascular Robotics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $3.00 to $1.00 in a report on Wednesday, August 8th.

CVRS stock opened at $1.32 on Friday. Corindus Vascular Robotics has a twelve month low of $0.69 and a twelve month high of $1.65.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last posted its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $2.96 million during the quarter, compared to analysts’ expectations of $3.20 million.

In other news, Director Louis A. Cannon acquired 30,000 shares of Corindus Vascular Robotics stock in a transaction on Friday, August 24th. The shares were acquired at an average price of $1.02 per share, with a total value of $30,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Louis A. Cannon acquired 31,000 shares of Corindus Vascular Robotics stock in a transaction on Monday, August 13th. The stock was purchased at an average cost of $0.96 per share, for a total transaction of $29,760.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 91,000 shares of company stock worth $90,060.

Large investors have recently added to or reduced their stakes in the business. Paloma Partners Management Co bought a new stake in Corindus Vascular Robotics in the 2nd quarter worth approximately $409,000. Millennium Management LLC increased its position in shares of Corindus Vascular Robotics by 62.6% during the 2nd quarter. Millennium Management LLC now owns 3,974,681 shares of the medical equipment provider’s stock valued at $3,282,000 after purchasing an additional 1,529,737 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Corindus Vascular Robotics by 151.2% during the 2nd quarter. Nomura Holdings Inc. now owns 1,248,740 shares of the medical equipment provider’s stock valued at $1,031,000 after purchasing an additional 751,699 shares during the last quarter. Jane Street Group LLC increased its position in shares of Corindus Vascular Robotics by 1,328.2% during the 2nd quarter. Jane Street Group LLC now owns 232,855 shares of the medical equipment provider’s stock valued at $192,000 after purchasing an additional 216,551 shares during the last quarter. Finally, LMR Partners LLP bought a new position in shares of Corindus Vascular Robotics during the 2nd quarter valued at approximately $218,000.

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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