Needham & Company LLC Reiterates “Hold” Rating for Mazor Robotics Ltd. (MZOR)
Mazor Robotics Ltd. (NASDAQ:MZOR)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research note issued on Wednesday.
Several other equities research analysts have also recently weighed in on the company. B. Riley began coverage on Mazor Robotics in a report on Tuesday. They issued a “neutral” rating and a $25.00 target price for the company. Barclays PLC upped their target price on Mazor Robotics from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Investment Research lowered Mazor Robotics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Finally, Standpoint Research initiated coverage on Mazor Robotics in a research report on Friday, July 8th. They set a “buy” rating and a $30.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Mazor Robotics presently has an average rating of “Hold” and an average price target of $26.25.
Shares of Mazor Robotics (NASDAQ:MZOR) traded down 2.31% during mid-day trading on Wednesday, reaching $24.58. The company had a trading volume of 146,946 shares. The firm has a 50-day moving average price of $23.33 and a 200-day moving average price of $18.19. Mazor Robotics has a 1-year low of $8.31 and a 1-year high of $26.55. The stock’s market capitalization is $532.72 million.
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Mazor Robotics (NASDAQ:MZOR) last released its earnings results on Tuesday, August 2nd. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $8.51 million. Mazor Robotics had a negative return on equity of 42.30% and a negative net margin of 60.75%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. Equities analysts expect that Mazor Robotics will post ($0.71) earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Iguana Healthcare Management LLC raised its position in shares of Mazor Robotics by 60.0% in the second quarter. Iguana Healthcare Management LLC now owns 200,000 shares of the company’s stock worth $3,596,000 after buying an additional 75,000 shares in the last quarter. EAM Investors LLC purchased a new position in shares of Mazor Robotics during the second quarter worth $2,348,000. Candriam Luxembourg S.C.A. purchased a new position in shares of Mazor Robotics during the second quarter worth $1,079,000. Menta Capital LLC raised its position in shares of Mazor Robotics by 25.0% in the second quarter. Menta Capital LLC now owns 46,848 shares of the company’s stock worth $842,000 after buying an additional 9,366 shares in the last quarter. Finally, Trellus Management Company LLC raised its position in shares of Mazor Robotics by 11.6% in the second quarter. Trellus Management Company LLC now owns 23,982 shares of the company’s stock worth $431,000 after buying an additional 2,500 shares in the last quarter. 18.71% of the stock is currently 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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