Corindus Misses Expectations, But Still Embraced by Wall Street

Corindus Vascular Robotics missed earnings per share expectations by one cent, but Wall Street didn’t seem to mind as shares of the medtech company, which was a 2015 MDEA finalist, soared on Wednesday. At one-point shares were up by as much as 23%. The surgical robotics maker reported 1Q19 EPS of $0.05 against the analyst estimate of $0.04. Revenue for 1Q19 was $3 million vs. the consensus estimate of $3.11 million. The Waltham, MA-based company recorded purchase orders for 11 CorPath GRX Systems, an increase of 83% compared to purchase orders received in 4Q18 and 267% growth compared to the purchase orders received in 1Q18. Don't miss Corindus Vascular Robotics at  BIOMEDevice Boston in the Surgical Suite, May 15, Booth 110.  “We are pleased with the positive trends in adoption and usage of our robotic technology during 1Q19,” Toland said in a release. “The 11 purchase orders for the CorPath GRX System received and a record number of disposable cassettes in the quarter reflect our continued momentum. Customers are also increasingly opting for service agreements, reflecting their commitment to robotic procedures over the long-term.” The CorPath System is described by the company as the first and only FDA-cleared medical device that can bring robotic precision to both percutaneous coronary intervention and peripheral vascular intervention procedures. It...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news