Mazor Robotics Ltd. (NASDAQ:MZOR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Mazor Robotics Ltd. is engaged in the development, production and marketing of medical devices for surgical procedures in the fields of orthopedics and neurosurgery. It offers Renaissance(TM), a surgical robotic system to conduct spine surgeries with less radiation. The company operates in the United States, Eastern Europe, Western Europe and Asia. Mazor Robotics Ltd. is based in Caesarea, Israel. “
A number of other research analysts have also weighed in on MZOR. JMP Securities lowered shares of Mazor Robotics from an “outperform” rating to a “market perform” rating in a research note on Friday, May 12th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “hold” rating on shares of Mazor Robotics in a research note on Thursday, July 6th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $46.00 price target on shares of Mazor Robotics in a research note on Monday, June 12th. Standpoint Research lowered shares of Mazor Robotics from a “buy” rating to a “reduce” rating and cut their price target for the company from $32.98 to $28.00 in a research note on Wednesday, April 19th. They noted that the move was a valuation call. Finally, Wells Fargo & Company lowered shares of Mazor Robotics from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.50.
Shares of Mazor Robotics (NASDAQ MZOR) opened at 41.53 on Tuesday. The company’s market cap is $991.53 million. Mazor Robotics has a 12 month low of $19.20 and a 12 month high of $45.64. The company’s 50 day moving average is $37.52 and its 200-day moving average is $28.88.
Mazor Robotics (NASDAQ:MZOR) last announced its earnings results on Wednesday, May 10th. The medical instruments supplier reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.02. The firm had revenue of $11.70 million for the quarter, compared to analyst estimates of $11.49 million. Mazor Robotics had a negative return on equity of 30.90% and a negative net margin of 45.08%. The company’s revenue for the quarter was up 82.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. Analysts expect that Mazor Robotics will post ($0.87) EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Mazor Robotics by 398.5% in the first quarter. JPMorgan Chase & Co. now owns 6,979 shares of the medical instruments supplier’s stock worth $208,000 after buying an additional 5,579 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Mazor Robotics during the first quarter valued at approximately $225,000. Point72 Asset Management L.P. bought a new position in Mazor Robotics during the first quarter valued at approximately $709,000. Menta Capital LLC bought a new position in Mazor Robotics during the first quarter valued at approximately $815,000. Finally, Messner & Smith Theme Value Investment Management Ltd. CA bought a new position in Mazor Robotics during the first quarter valued at approximately $872,000. Institutional investors and hedge funds own 27.13% of the company’s stock.
About Mazor Robotics
Mazor Robotics Ltd is an Israel-based medical device company that develops and markets surgical guidance systems and complementary products. It develops computerized and imaging-based systems in the field of spine surgery. Its products include: Renaissance Surgical Guidance System, which enables surgeons to advance from freehand surgical procedures to guided procedures, as well as Food and Drug Administration (FDA)-cleared and European Conformity (CE)-marked Renaissance System, used in spine surgeries, whether open or minimally invasive, for a number of clinical indications.
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