Corindus Vascular Robotics (CVRS) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Corindus Vascular Robotics (NYSEAMERICAN:CVRS) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

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. “

Shares of NYSEAMERICAN:CVRS opened at $2.65 on Tuesday. Corindus Vascular Robotics has a fifty-two week low of $0.70 and a fifty-two week high of $3.10.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last issued its earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $3.04 million during the quarter, compared to analyst estimates of $2.90 million.

In related news, Director Louis A. Cannon purchased 573,798 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were bought at an average cost of $1.38 per share, for a total transaction of $791,841.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Hudson Executive Capital Lp purchased 2,899,391 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was bought at an average price of $1.38 per share, for a total transaction of $4,001,159.58. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 3,490,689 shares of company stock worth $4,830,726.

A number of institutional investors have recently made changes to their positions in the business. Hudson Executive Capital LP increased its stake in Corindus Vascular Robotics by 25.6% in the first quarter. Hudson Executive Capital LP now owns 14,235,545 shares of the medical equipment provider’s stock valued at $24,770,000 after purchasing an additional 2,899,391 shares during the last quarter. Millennium Management LLC increased its stake in Corindus Vascular Robotics by 1.0% in the fourth 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. Schonfeld Strategic Advisors LLC increased its stake in Corindus Vascular Robotics by 12.5% in the first quarter. Schonfeld Strategic Advisors LLC now owns 1,800,000 shares of the medical equipment provider’s stock valued at $3,132,000 after purchasing an additional 200,000 shares during the last quarter. Nomura Holdings Inc. increased its stake in Corindus Vascular Robotics by 18.6% in the fourth 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. Finally, EAM Global Investors LLC purchased a new position in Corindus Vascular Robotics in the first quarter valued at approximately $1,024,000.

About Corindus Vascular Robotics

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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