Corindus Vascular Robotics (NYSEAMERICAN:CVRS) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Corindus Vascular Robotics (NYSEAMERICAN:CVRS) from a hold rating to a sell rating in a research note released on Tuesday morning, 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. “

Separately, Cowen downgraded shares of Corindus Vascular Robotics from an outperform rating to a market perform rating and upped their price target for the stock from $4.00 to $4.28 in a research report on Thursday, August 8th.

CVRS opened at $4.27 on Tuesday. Corindus Vascular Robotics has a twelve month low of $0.78 and a twelve month high of $4.30.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $4.58 million for the quarter, compared to analysts’ expectations of $4.10 million.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tealwood Asset Management Inc. raised its holdings in Corindus Vascular Robotics by 50.0% in the 2nd quarter. Tealwood Asset Management Inc. now owns 15,000 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 5,000 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Corindus Vascular Robotics by 36.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 15,000 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 4,000 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Corindus Vascular Robotics in the 2nd quarter valued at approximately $58,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Corindus Vascular Robotics in the 2nd quarter valued at approximately $97,000. Finally, McGuire Investment Group LLC purchased a new stake in shares of Corindus Vascular Robotics in the 2nd quarter valued at approximately $101,000.

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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