Mazor Robotics (NASDAQ:MZOR)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Wednesday.
The analysts wrote, “MZOR beat consensus revenue and EPS though we note it had preannounced 27 system orders and revenue of ~$19M on 1/8/18. There were 24 systems delivered in 4Q17, which missed our post-preannouncement estimate of 28 but was up from 19 systems in 3Q17 and we note that the installed base increased by 16 to 188. This was the first full quarter MDT has had responsibility for the distribution of the Mazor X system. MZOR’s gross margin was much lower than expected but more than offset by lower operating expenses which resulted in an operating margin that was higher than expected. Management indicated that MZOR’s revenue growth is likely to slow significantly in 2018 given pricing headwinds under the MDT agreement. Given this, and MZOR’s 2018E EV/sales multiple of 17.6x, we maintain our Hold rating.””
Several other equities analysts also recently issued reports on MZOR. Zacks Investment Research downgraded Mazor Robotics from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. BidaskClub upgraded Mazor Robotics from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Ladenburg Thalmann Financial Services set a $67.00 price objective on Mazor Robotics and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, TheStreet upgraded Mazor Robotics from a “d” rating to a “c-” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Mazor Robotics currently has an average rating of “Hold” and an average price target of $45.67.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its position in Mazor Robotics by 87.2% in the fourth quarter. IFP Advisors Inc now owns 2,275 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 1,060 shares during the period. Advisor Group Inc. lifted its position in Mazor Robotics by 365.8% in the third quarter. Advisor Group Inc. now owns 2,795 shares of the medical instruments supplier’s stock worth $138,000 after purchasing an additional 2,195 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Mazor Robotics by 107.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,811 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 1,973 shares during the period. Halbert Hargrove Russell LLC acquired a new stake in Mazor Robotics in the third quarter worth approximately $214,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Mazor Robotics in the third quarter worth approximately $216,000. Hedge funds and other institutional investors own 26.40% of the company’s stock.
Mazor Robotics Company Profile
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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