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

Cowen and Company set a $3.00 target price on Corindus Vascular Robotics Inc (NYSEMKT:CVRS) in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the medical equipment provider’s stock.

Other research analysts also recently issued research reports about the company. B. Riley restated a buy rating and set a $3.00 price target on shares of Corindus Vascular Robotics in a research note on Monday, May 15th. Zacks Investment Research upgraded Corindus Vascular Robotics from a hold rating to a buy rating and set a $2.00 price target on the stock in a research note on Tuesday, July 11th. ValuEngine upgraded Corindus Vascular Robotics from a sell rating to a hold rating in a research note on Thursday, June 22nd. Finally, BidaskClub downgraded Corindus Vascular Robotics from a buy rating to a hold rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $2.67.

Shares of Corindus Vascular Robotics (NYSEMKT CVRS) opened at 1.57 on Wednesday. The firm’s market cap is $294.05 million. Corindus Vascular Robotics has a 12-month low of $0.40 and a 12-month high of $2.25. The company’s 50 day moving average price is $1.78 and its 200-day moving average price is $1.26.

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

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Several hedge funds and other institutional investors have recently made changes to their positions in CVRS. Rhumbline Advisers increased its position in shares of 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 during the period. New York State Common Retirement Fund increased its position in shares of Corindus Vascular Robotics by 334.6% in the second quarter. New York State Common Retirement Fund now owns 89,100 shares of the medical equipment provider’s stock valued at $166,000 after buying an additional 68,599 shares during the period. Bank of New York Mellon Corp increased its position in shares of Corindus Vascular Robotics by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 163,012 shares of the medical equipment provider’s stock valued at $214,000 after buying an additional 9,684 shares during the period. Teachers Advisors LLC increased its position in shares of Corindus Vascular Robotics by 184.7% in the second quarter. Teachers Advisors LLC now owns 167,633 shares of the medical equipment provider’s stock valued at $312,000 after buying an additional 108,745 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of 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 during the period.

About Corindus Vascular Robotics

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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