Mazor Robotics (MZOR) Downgraded to “Hold” at Zacks Investment Research

Mazor Robotics (NASDAQ:MZOR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Mazor Robotics Ltd. is engaged in the development, production and marketing of medical devices for surgical procedures in the fields of orthopedics and neurosurgery. It offers Renaissance(TM), a surgical robotic system to conduct spine surgeries with less radiation. The company operates in the United States, Eastern Europe, Western Europe and Asia. Mazor Robotics Ltd. is based in Caesarea, Israel. “

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A number of other research firms also recently weighed in on MZOR. BidaskClub raised Mazor Robotics from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Needham & Company LLC reissued a “hold” rating on shares of Mazor Robotics in a research note on Wednesday, February 14th. Vetr raised Mazor Robotics from a “hold” rating to a “buy” rating and set a $66.27 price target on the stock in a research note on Thursday, March 1st. Finally, Barclays reissued a “sell” rating and issued a $36.00 price target on shares of Mazor Robotics in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mazor Robotics has a consensus rating of “Hold” and an average target price of $49.21.

MZOR stock opened at $59.99 on Wednesday. The firm has a market capitalization of $1,573.43, a PE ratio of -119.98 and a beta of 1.20. Mazor Robotics has a twelve month low of $29.55 and a twelve month high of $76.56.

Mazor Robotics (NASDAQ:MZOR) last posted its quarterly earnings results on Wednesday, February 14th. The medical instruments supplier reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.09. The company had revenue of $19.15 million for the quarter, compared to the consensus estimate of $19.00 million. Mazor Robotics had a negative return on equity of 14.03% and a negative net margin of 19.08%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) EPS. sell-side analysts forecast that Mazor Robotics will post 0.06 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the stock. Global X Management Co. LLC raised its stake in Mazor Robotics by 127.8% during the 4th quarter. Global X Management Co. LLC now owns 263,147 shares of the medical instruments supplier’s stock worth $13,578,000 after buying an additional 147,611 shares during the period. Dorsey Wright & Associates raised its stake in Mazor Robotics by 37.0% during the 4th quarter. Dorsey Wright & Associates now owns 121,540 shares of the medical instruments supplier’s stock worth $6,272,000 after buying an additional 32,828 shares during the period. Raymond James & Associates raised its stake in Mazor Robotics by 87.6% during the 4th quarter. Raymond James & Associates now owns 83,151 shares of the medical instruments supplier’s stock worth $4,291,000 after buying an additional 38,820 shares during the period. Essex Investment Management Co. LLC raised its stake in Mazor Robotics by 2.9% during the 4th quarter. Essex Investment Management Co. LLC now owns 81,968 shares of the medical instruments supplier’s stock worth $4,230,000 after buying an additional 2,314 shares during the period. Finally, Biondo Investment Advisors LLC raised its stake in Mazor Robotics by 8.6% during the 4th quarter. Biondo Investment Advisors LLC now owns 68,100 shares of the medical instruments supplier’s stock worth $3,514,000 after buying an additional 5,370 shares during the period. 24.09% of the stock is currently owned by institutional investors and hedge funds.

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About Mazor Robotics

Mazor Robotics Ltd., together with its subsidiaries, engages in the development, production, and marketing of medical devices for supporting surgical procedures in the fields of orthopedics and neurosurgery in the United States and internationally. The company operates in the field of image guided surgery and computer assisted surgery that enable the use of surgical instruments with high precision and minimal invasiveness.

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Analyst Recommendations for Mazor Robotics (NASDAQ:MZOR)