Mazor Robotics Ltd. (NASDAQ:MZOR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
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. “
Other equities research analysts have also issued reports about the company. B. Riley began coverage on Mazor Robotics in a research note on Tuesday, October 11th. They set a “neutral” rating and a $25.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Mazor Robotics in a research note on Wednesday, July 13th. Barclays PLC raised their price target on Mazor Robotics from $16.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, July 14th. Finally, Standpoint Research began coverage on Mazor Robotics in a research note on Friday, July 8th. They set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Mazor Robotics currently has a consensus rating of “Hold” and an average target price of $26.25.
Mazor Robotics (NASDAQ:MZOR) opened at 22.89 on Friday. The stock’s 50 day moving average price is $23.40 and its 200-day moving average price is $18.53. The company’s market capitalization is $496.09 million. Mazor Robotics has a one year low of $8.31 and a one year high of $26.55.
Mazor Robotics (NASDAQ:MZOR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. Mazor Robotics had a negative return on equity of 42.30% and a negative net margin of 60.75%. The firm earned $8.30 million during the quarter, compared to analyst estimates of $8.51 million. During the same period last year, the company earned ($0.05) EPS. Mazor Robotics’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts forecast that Mazor Robotics will post ($0.71) EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EAM Investors LLC purchased a new position in Mazor Robotics during the second quarter valued at approximately $2,348,000. Iguana Healthcare Management LLC increased its position in Mazor Robotics by 384.6% in the first quarter. Iguana Healthcare Management LLC now owns 121,151 shares of the company’s stock valued at $1,507,000 after buying an additional 96,151 shares during the last quarter. Menta Capital LLC increased its position in Mazor Robotics by 81.9% in the first quarter. Menta Capital LLC now owns 37,482 shares of the company’s stock valued at $466,000 after buying an additional 16,879 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new position in Mazor Robotics during the second quarter valued at approximately $1,079,000. Finally, Cookson Peirce & Co. Inc. purchased a new position in Mazor Robotics during the second quarter valued at approximately $192,000. Institutional investors own 18.72% 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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