Mazor Robotics Ltd – Shares Down 10.7% Following Analyst Downgrade (MZOR)
Shares of Mazor Robotics Ltd – (NASDAQ:MZOR) dropped 10.7% during trading on Wednesday after Needham & Company lowered their price target on the stock from $21.00 to $20.00, Analyst RN reports. Needham & Company currently has a buy rating on the stock. Mazor Robotics Ltd – traded as low as $15.73 and last traded at $16.18, with a volume of 346,633 shares trading hands. The stock had previously closed at $18.12.
A number of other analysts have also recently weighed in on MZOR. Analysts at JMP Securities cut their price target on shares of Mazor Robotics Ltd – from $31.00 to $27.00 in a research note on Friday, May 9th. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Mazor Robotics Ltd – in a research note on Thursday, May 8th. They now have a $27.00 price target on the stock, down previously from $29.00. Finally, analysts at Sterne Agee initiated coverage on shares of Mazor Robotics Ltd – in a research note on Tuesday, April 8th. They set a “neutral” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $24.92.
The stock has a 50-day moving average of $17.05 and a 200-day moving average of $20.63. The company’s market cap is $332.0 million.
Mazor Robotics Ltd – (NASDAQ:MZOR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $4.90 million for the quarter, compared to the consensus estimate of $5.79 million. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that Mazor Robotics Ltd – will post $-0.36 earnings per share for the current fiscal year.
Mazor Robotics Ltd is an Israel-based company active in the advanced medical sector. It is engaged in the development of miniature semi-robotic, bone-mounted positioning systems for orthopedic procedures.
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