Corindus Vascular Robotics Inc (CVRS) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Corindus Vascular Robotics Inc (NYSEMKT:CVRS) posted 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, Bloomberg Earnings reports. Corindus Vascular Robotics had a negative return on equity of 181.63% and a negative net margin of 1,272.20%. The business had revenue of $2.26 million for the quarter, compared to the consensus estimate of $3.10 million.

Shares of Corindus Vascular Robotics (NYSEMKT:CVRS) traded up 0.68% during midday trading on Friday, hitting $1.48. The company had a trading volume of 902,994 shares. The firm’s market capitalization is $277.20 million. The company has a 50-day moving average of $1.72 and a 200 day moving average of $1.30. Corindus Vascular Robotics has a 12 month low of $0.40 and a 12 month high of $2.25.

A number of research firms have recently issued reports on CVRS. B. Riley reissued a “buy” rating and set a $3.00 price target on shares of Corindus Vascular Robotics in a research report on Monday, May 15th. BidaskClub raised Corindus Vascular Robotics from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Cowen and Company set a $3.00 price target on Corindus Vascular Robotics and gave the stock a “buy” rating in a research report on Wednesday, August 9th. ValuEngine downgraded Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Zacks Investment Research raised Corindus Vascular Robotics from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $2.67.

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Corindus Vascular Robotics by 147.8% in the second quarter. Goldman Sachs Group Inc. now owns 58,824 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 35,086 shares during the last quarter. Rhumbline Advisers boosted its stake 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 worth $150,000 after buying an additional 32,608 shares during the last quarter. New York State Common Retirement Fund boosted its stake 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 worth $166,000 after buying an additional 68,599 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Corindus Vascular Robotics by 34.4% in the second quarter. California State Teachers Retirement System now owns 148,558 shares of the medical equipment provider’s stock worth $276,000 after buying an additional 38,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 worth $214,000 after buying an additional 9,684 shares during the last quarter.

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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.