Cowen and Company Analysts Give Corindus Vascular Robotics Inc (NYSEMKT:CVRS) a $3.00 Price Target

Corindus Vascular Robotics Inc (NYSEMKT:CVRS) received a $3.00 target price from stock analysts at Cowen and Company in a report issued on Wednesday. The firm currently has a “buy” rating on the medical equipment provider’s stock. Cowen and Company’s target price suggests a potential upside of 80.72% from the company’s previous close.

Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. ValuEngine upgraded Corindus Vascular Robotics from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. BidaskClub lowered Corindus Vascular Robotics from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, B. Riley restated a “buy” rating and issued a $3.00 target price on shares of Corindus Vascular Robotics in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Corindus Vascular Robotics presently has an average rating of “Hold” and an average price target of $2.67.

Corindus Vascular Robotics (NYSEMKT CVRS) opened at 1.66 on Wednesday. Corindus Vascular Robotics has a one year low of $0.40 and a one year high of $2.25. The stock’s 50 day moving average is $1.79 and its 200 day moving average is $1.25. The firm’s market cap is $310.55 million.

Corindus Vascular Robotics (NYSEMKT:CVRS) last released its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Corindus Vascular Robotics had a negative return on equity of 181.63% and a negative net margin of 1,272.20%. The firm had revenue of $2.26 million during the quarter, compared to analyst estimates of $3.10 million. On average, equities research analysts expect that Corindus Vascular Robotics will post ($0.21) earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of CVRS. Bank of New York Mellon Corp boosted its position in Corindus Vascular Robotics by 40.7% in the second quarter. Bank of New York Mellon Corp now owns 229,380 shares of the medical equipment provider’s stock valued at $426,000 after buying an additional 66,368 shares in the last quarter. Rhumbline Advisers boosted its position in Corindus Vascular Robotics by 67.6% in the second quarter. Rhumbline Advisers now owns 80,868 shares of the medical equipment provider’s stock valued at $150,000 after buying an additional 32,608 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Corindus Vascular Robotics by 240.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 285,900 shares of the medical equipment provider’s stock valued at $375,000 after buying an additional 201,900 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Corindus Vascular Robotics by 73.3% in the first quarter. Geode Capital Management LLC now owns 673,488 shares of the medical equipment provider’s stock valued at $882,000 after buying an additional 284,855 shares in the last quarter.

Corindus Vascular Robotics Company Profile

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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