Louis A. Cannon Acquires 16,500 Shares of Corindus Vascular Robotics (CVRS) Stock

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) Director Louis A. Cannon bought 16,500 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was acquired at an average price of $0.79 per share, for a total transaction of $13,035.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

CVRS traded down $0.01 during trading hours on Friday, hitting $0.79. The company’s stock had a trading volume of 1,118,800 shares, compared to its average volume of 903,038. Corindus Vascular Robotics has a fifty-two week low of $0.66 and a fifty-two week high of $2.25.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in shares of Corindus Vascular Robotics during the 4th quarter valued at $2,189,000. Essex Investment Management Co. LLC increased its position in shares of Corindus Vascular Robotics by 55.2% during the 4th quarter. Essex Investment Management Co. LLC now owns 1,238,664 shares of the medical equipment provider’s stock valued at $1,251,000 after purchasing an additional 440,601 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Corindus Vascular Robotics during the 1st quarter valued at $295,000. BlackRock Inc. increased its position in shares of Corindus Vascular Robotics by 4.6% during the 4th quarter. BlackRock Inc. now owns 4,384,539 shares of the medical equipment provider’s stock valued at $4,428,000 after purchasing an additional 191,134 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Corindus Vascular Robotics by 91.6% during the 4th quarter. Deutsche Bank AG now owns 250,179 shares of the medical equipment provider’s stock valued at $251,000 after purchasing an additional 119,611 shares during the period.

Several analysts recently commented on the company. Cowen set a $2.00 target price on Corindus Vascular Robotics and gave the company a “buy” rating in a research report on Thursday, March 15th. Zacks Investment Research cut Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Finally, Ladenburg Thalmann assumed coverage on Corindus Vascular Robotics in a research report on Monday. They issued a “buy” rating and a $2.00 target price on the stock. Two 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. Corindus Vascular Robotics has an average rating of “Hold” and a consensus price target of $1.67.

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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