“MZOR beat consensus revenue and EPS though we note that it had preannounced that it had new orders for 6 systems and revenue of ~$11.5M in 1Q17 on 4/6/17. There were 12 systems delivered in 1Q17, which is above our original estimate of 9. Management noted it is on track to hit the milestone necessary for the next phase of its agreement with MDT earlier than expected. MZOR’s operating margin was lower than expected due to a lower than expected gross margin partially offset by a lower than expected operating expenses.”,” Needham & Company LLC’s analyst wrote.
MZOR has been the topic of a number of other research reports. Zacks Investment Research lowered Mazor Robotics from a buy rating to a sell rating in a research note on Friday, March 24th. Wells Fargo & Company lowered Mazor Robotics from an outperform rating to a market perform rating in a research note on Thursday, May 11th. Standpoint Research lowered 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. Barclays PLC lowered Mazor Robotics from an overweight rating to an equal weight rating and raised their price target for the company from $31.00 to $32.00 in a research note on Monday, April 24th. They noted that the move was a valuation call. Finally, First Analysis lowered Mazor Robotics from an overweight rating to an equal weight rating and raised their price target for the company from $28.00 to $38.00 in a research note on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $33.50.
Mazor Robotics (NASDAQ:MZOR) opened at 33.75 on Thursday. The stock’s market capitalization is $805.78 million. Mazor Robotics has a 12 month low of $16.18 and a 12 month high of $45.64. The firm’s 50-day moving average is $38.39 and its 200-day moving average is $28.13.
Mazor Robotics (NASDAQ:MZOR) last released its earnings results on Wednesday, May 10th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.02. Mazor Robotics had a negative return on equity of 30.90% and a negative net margin of 45.08%. The business had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $11.49 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The business’s revenue for the quarter was up 82.8% on a year-over-year basis. On average, equities analysts expect that Mazor Robotics will post ($0.75) earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of MZOR. Point72 Asset Management L.P. acquired a new stake in shares of Mazor Robotics during the first quarter valued at $709,000. Driehaus Capital Management LLC purchased a new stake in Mazor Robotics during the first quarter worth approximately $3,410,000. Credit Suisse AG increased its stake in Mazor Robotics by 66.5% in the first quarter. Credit Suisse AG now owns 330,000 shares of the medical instruments supplier’s stock worth $9,824,000 after buying an additional 131,804 shares during the period. Morgan Stanley increased its stake in Mazor Robotics by 35.1% in the first quarter. Morgan Stanley now owns 8,520 shares of the medical instruments supplier’s stock worth $254,000 after buying an additional 2,215 shares during the period. Finally, UBS Group AG increased its stake in Mazor Robotics by 2.4% in the first quarter. UBS Group AG now owns 99,954 shares of the medical instruments supplier’s stock worth $2,976,000 after buying an additional 2,379 shares during the period. 26.93% of the stock is owned by institutional investors and hedge funds.
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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