Corindus Vascular Robotics (NYSEAMERICAN:CVRS) posted its quarterly earnings results on Wednesday, March 14th. The medical equipment provider reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04), Bloomberg Earnings reports. Corindus Vascular Robotics had a negative return on equity of 110.93% and a negative net margin of 323.84%. The firm had revenue of $4.19 million during the quarter, compared to the consensus estimate of $3.90 million.
NYSEAMERICAN CVRS traded down $0.14 on Friday, hitting $1.36. 824,445 shares of the stock traded hands, compared to its average volume of 949,022. Corindus Vascular Robotics has a 12 month low of $0.66 and a 12 month high of $2.25.
CVRS has been the topic of a number of analyst reports. Cowen set a $2.00 price objective on Corindus Vascular Robotics and gave the company a “buy” rating in a research note on Thursday, March 15th. Zacks Investment Research downgraded Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a sell rating and two have given a buy rating to the company. Corindus Vascular Robotics has a consensus rating of “Hold” and a consensus target price of $2.00.
A hedge fund recently raised its stake in Corindus Vascular Robotics stock. California State Teachers Retirement System grew its stake in shares of Corindus Vascular Robotics (NYSEAMERICAN:CVRS) by 34.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,558 shares of the medical equipment provider’s stock after acquiring an additional 38,000 shares during the period. California State Teachers Retirement System owned 0.08% of Corindus Vascular Robotics worth $276,000 at the end of the most recent reporting period.
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About Corindus Vascular Robotics
Corindus Vascular Robotics, Inc designs, manufactures, and sells robotic-assisted precision vascular 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 radial, coronary, and peripheral procedures.
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