Rewalk Robotics (NASDAQ:RWLK)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research report issued to clients and investors on Monday. They currently have a $2.00 price target on the medical device company’s stock. Canaccord Genuity’s price objective indicates a potential upside of 60.00% from the company’s current price.
The analysts wrote, “We maintain our BUY rating on ReWalk Robotics following Q4/17 results. ReWalk reported revenues of $1.5M, below CG/consensus of $2.1M/$1.9M. Although the shipment of 23 systems was well below our expectation for 42 systems, ReWalk sales benefited from a favorable mix of system purchases and rental conversions in the quarter. Despite the weaker than anticipated system placements, we were encouraged to see another quarter of strong demand and another positive coverage decision with reimbursement through Italy’s worker’s compensation group. While commercial unit placements continue to be lumpy Q/Q we continue to view the broader pipeline (Restore soft suit for stroke) positively in the H2/18 and beyond. Positive momentum in demand and reimbursement decisions: In Q4/17 the company placed 23 total units, down from 39 Y/Y but up Q/Q from 16.””
Several other equities analysts also recently issued reports on the stock. Oppenheimer set a $3.00 price target on shares of Rewalk Robotics and gave the company a “buy” rating in a report on Tuesday, December 26th. Zacks Investment Research downgraded shares of Rewalk Robotics from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Piper Jaffray Companies reissued a “buy” rating and set a $3.00 price target on shares of Rewalk Robotics in a report on Sunday, January 7th. ValuEngine raised shares of Rewalk Robotics from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Barclays reissued a “sell” rating and set a $1.00 price target on shares of Rewalk Robotics in a report on Friday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.58.
Rewalk Robotics (NASDAQ:RWLK) last announced its quarterly earnings results on Thursday, March 8th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. Rewalk Robotics had a negative net margin of 318.81% and a negative return on equity of 678.44%. The firm had revenue of $1.52 million during the quarter, compared to the consensus estimate of $1.76 million.
A hedge fund recently raised its stake in Rewalk Robotics stock. Advisor Group Inc. raised its stake in Rewalk Robotics Ltd (NASDAQ:RWLK) by 1,495.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,900 shares of the medical device company’s stock after acquiring an additional 170,500 shares during the quarter. Advisor Group Inc. owned about 0.82% of Rewalk Robotics worth $264,000 as of its most recent filing with the Securities and Exchange Commission. 2.60% of the stock is currently owned by hedge funds and other institutional investors.
About Rewalk Robotics
ReWalk Robotics Ltd. is a medical device company. The Company is engaged in designing, developing and commercializing exoskeletons that allow individuals with mobility impairments or other medical conditions the ability to stand and walk once again. The Company offers ReWalk, which is an exoskeleton that uses its tilt-sensor technology and an on-board computer and motion sensors to drive motorized legs that power movement.
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