Mazor Robotics Ltd. (NASDAQ:MZOR) Announces Quarterly Earnings Results

Mazor Robotics Ltd. (NASDAQ:MZOR) announced its earnings results on Tuesday, August 1st. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.09, Morningstar.com reports. The business had revenue of $15.46 million for the quarter, compared to analyst estimates of $15.38 million. Mazor Robotics had a negative return on equity of 28.51% and a negative net margin of 37.66%. Mazor Robotics’s revenue for the quarter was up 86.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) EPS.

Shares of Mazor Robotics (NASDAQ:MZOR) traded up 1.15% during mid-day trading on Friday, hitting $36.87. The company had a trading volume of 105,719 shares. The company’s market capitalization is $889.05 million. The company’s 50-day moving average is $38.18 and its 200 day moving average is $32.30. Mazor Robotics has a one year low of $20.19 and a one year high of $45.64.

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Several institutional investors have recently modified their holdings of the company. Credit Suisse AG raised its position in shares of Mazor Robotics by 66.5% in the first quarter. Credit Suisse AG now owns 330,000 shares of the medical instruments supplier’s stock worth $9,824,000 after buying an additional 131,804 shares during the period. UBS Group AG raised its position in shares of Mazor Robotics by 2.4% in the first quarter. UBS Group AG now owns 99,954 shares of the medical instruments supplier’s stock worth $2,976,000 after buying an additional 2,379 shares during the period. Next Century Growth Investors LLC raised its position in shares of Mazor Robotics by 12.0% in the first quarter. Next Century Growth Investors LLC now owns 105,524 shares of the medical instruments supplier’s stock worth $3,141,000 after buying an additional 11,274 shares during the period. Menta Capital LLC bought a new position in shares of Mazor Robotics during the first quarter worth approximately $815,000. Finally, OppenheimerFunds Inc. raised its position in shares of Mazor Robotics by 21.0% in the first quarter. OppenheimerFunds Inc. now owns 915,780 shares of the medical instruments supplier’s stock worth $27,263,000 after buying an additional 158,690 shares during the period. 28.37% of the stock is currently owned by institutional investors and hedge funds.

MZOR has been the topic of a number of recent analyst reports. B. Riley reissued a “neutral” rating and set a $25.00 target price on shares of Mazor Robotics in a report on Wednesday, April 19th. JMP Securities downgraded Mazor Robotics from an “outperform” rating to a “market perform” rating in a research note on Friday, May 12th. They noted that the move was a valuation call. Needham & Company LLC restated a “hold” rating on shares of Mazor Robotics in a research note on Thursday, May 11th. First Analysis downgraded Mazor Robotics from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $28.00 to $38.00 in a research note on Thursday, May 11th. Finally, Barclays PLC downgraded Mazor Robotics from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $31.00 to $32.00 in a research note on Monday, April 24th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Mazor Robotics has an average rating of “Hold” and an average target price of $33.50.

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.

Earnings History for Mazor Robotics (NASDAQ:MZOR)

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