Corindus Vascular Robotics Inc (NYSEAMERICAN:CVRS) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 14,272,499 shares, a drop of 1.6% from the August 15th total of 14,503,763 shares. Based on an average trading volume of 436,834 shares, the days-to-cover ratio is currently 32.7 days. Approximately 17.5% of the company’s stock are short sold.
CVRS stock traded down $0.12 during midday trading on Friday, reaching $1.25. The company had a trading volume of 570,561 shares, compared to its average volume of 1,028,338. Corindus Vascular Robotics has a 1-year low of $0.66 and a 1-year high of $1.65.
Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last released its earnings results on Tuesday, August 7th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). 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 $1.67 million during the quarter, compared to the consensus estimate of $3.00 million.
In other Corindus Vascular Robotics news, Director Louis A. Cannon purchased 30,000 shares of the business’s stock in a transaction on Friday, August 24th. The stock was acquired at an average price of $1.02 per share, with a total value of $30,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Louis A. Cannon purchased 31,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were acquired at an average cost of $0.96 per share, with a total value of $29,760.00. The disclosure for this purchase can be found here. Insiders have bought a total of 91,000 shares of company stock valued at $90,060 over the last ninety days.
Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of Corindus Vascular Robotics by 62.6% during the second quarter. Millennium Management LLC now owns 3,974,681 shares of the medical equipment provider’s stock worth $3,282,000 after purchasing an additional 1,529,737 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Corindus Vascular Robotics by 151.2% in the second quarter. Nomura Holdings Inc. now owns 1,248,740 shares of the medical equipment provider’s stock worth $1,031,000 after acquiring an additional 751,699 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Corindus Vascular Robotics by 164.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 569,466 shares of the medical equipment provider’s stock worth $470,000 after acquiring an additional 354,486 shares during the period. Paloma Partners Management Co acquired a new position in shares of Corindus Vascular Robotics in the second quarter worth approximately $409,000. Finally, LMR Partners LLP acquired a new position in shares of Corindus Vascular Robotics in the second quarter worth approximately $218,000.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Corindus Vascular Robotics from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Stifel Nicolaus downgraded Corindus Vascular Robotics from a “buy” rating to a “hold” rating and dropped their price target for the company from $3.00 to $1.00 in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Corindus Vascular Robotics currently has an average rating of “Hold” and an average target price of $1.50.
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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