Corindus Vascular Robotics (CVRS) Shares Gap Up to $0.73

Corindus Vascular Robotics Inc (NYSEAMERICAN:CVRS) gapped up prior to trading on Tuesday . The stock had previously closed at $0.71, but opened at $0.73. Corindus Vascular Robotics shares last traded at $0.86, with a volume of 2845560 shares.

Several research analysts have recently weighed in on the company. Cowen set a $2.00 target price on Corindus Vascular Robotics and gave the stock a “buy” rating in a report on Thursday, March 15th. Zacks Investment Research upgraded Corindus Vascular Robotics from a “sell” rating to a “hold” rating in a report on Wednesday, May 16th. Finally, LADENBURG THALM/SH SH assumed coverage on Corindus Vascular Robotics in a report on Monday, May 21st. They set a “buy” rating and a $2.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $1.67.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last issued its earnings results on Tuesday, May 8th. The medical equipment provider reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $1.49 million for the quarter, compared to analyst estimates of $3.20 million. Corindus Vascular Robotics had a negative return on equity of 110.93% and a negative net margin of 323.84%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in Corindus Vascular Robotics by 245.0% in the first quarter. The Manufacturers Life Insurance Company now owns 89,025 shares of the medical equipment provider’s stock valued at $122,000 after acquiring an additional 63,217 shares during the last quarter. Bronfman E.L. Rothschild L.P. acquired a new position in Corindus Vascular Robotics in the first quarter valued at approximately $161,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Corindus Vascular Robotics in the first quarter valued at approximately $295,000. Deutsche Bank AG lifted its holdings in Corindus Vascular Robotics by 91.6% in the fourth quarter. Deutsche Bank AG now owns 250,179 shares of the medical equipment provider’s stock valued at $251,000 after acquiring an additional 119,611 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Corindus Vascular Robotics in the fourth quarter valued at approximately $2,189,000.

Corindus Vascular Robotics Company Profile

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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