Corindus Vascular Robotics (CVRS) Shares Down 6.6%

Shares of Corindus Vascular Robotics Inc (NYSEAMERICAN:CVRS) fell 6.6% during trading on Thursday . The stock traded as low as $2.62 and last traded at $2.70. 2,873,551 shares traded hands during mid-day trading, an increase of 144% from the average session volume of 1,177,543 shares. The stock had previously closed at $2.89.

Separately, Zacks Investment Research cut shares of Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research note on Tuesday.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last announced its earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $3.04 million for the quarter, compared to analysts’ expectations of $2.90 million.

In other Corindus Vascular Robotics news, major shareholder Hudson Executive Capital Lp bought 2,899,391 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were purchased at an average cost of $1.38 per share, for a total transaction of $4,001,159.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Louis A. Cannon bought 573,798 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average price of $1.38 per share, for a total transaction of $791,841.24. The disclosure for this purchase can be found here. Insiders have bought a total of 3,483,189 shares of company stock worth $4,811,001 over the last 90 days.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Corindus Vascular Robotics during the 4th quarter valued at about $64,000. Nomura Holdings Inc. grew its holdings in Corindus Vascular Robotics by 18.6% during the 4th quarter. Nomura Holdings Inc. now owns 1,262,445 shares of the medical equipment provider’s stock valued at $1,077,000 after purchasing an additional 198,111 shares during the last quarter. Barclays PLC bought a new position in Corindus Vascular Robotics during the 4th quarter valued at about $325,000. Jane Street Group LLC bought a new position in Corindus Vascular Robotics during the 4th quarter valued at about $36,000. Finally, Millennium Management LLC grew its holdings in Corindus Vascular Robotics by 1.0% during the 4th quarter. Millennium Management LLC now owns 7,088,692 shares of the medical equipment provider’s stock valued at $5,955,000 after purchasing an additional 68,250 shares during the last quarter.

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Corindus Vascular Robotics Company Profile (NYSEAMERICAN:CVRS)

Corindus Vascular Robotics, Inc designs, manufactures, and sells robotic-assisted 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 coronary and peripheral interventional procedures.

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