First Analysis Comments on Mazor Robotics Ltd.’s FY2016 Earnings (MZOR)
Mazor Robotics Ltd. (NASDAQ:MZOR) – Investment analysts at First Analysis reduced their FY2016 earnings per share (EPS) estimates for shares of Mazor Robotics in a report released on Wednesday. First Analysis analyst G. Chodaczek now forecasts that the firm will earn ($0.82) per share for the year, down from their previous forecast of ($0.61). First Analysis also issued estimates for Mazor Robotics’ Q4 2016 earnings at ($0.17) EPS, Q1 2017 earnings at ($0.18) EPS, Q2 2017 earnings at ($0.19) EPS, Q3 2017 earnings at ($0.16) EPS and FY2017 earnings at ($0.69) EPS.
Mazor Robotics (NASDAQ:MZOR) last released its earnings results on Tuesday, November 8th. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. Mazor Robotics had a negative return on equity of 40.07% and a negative net margin of 55.57%. The firm earned $7.60 million during the quarter, compared to analysts’ expectations of $7.69 million. During the same period in the previous year, the firm posted ($0.12) EPS. Mazor Robotics’s revenue for the quarter was up 52.0% on a year-over-year basis.
Several other research analysts have also recently issued reports on MZOR. Zacks Investment Research cut shares of Mazor Robotics from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Needham & Company LLC restated a “hold” rating on shares of Mazor Robotics in a report on Tuesday, August 2nd. B. Riley assumed coverage on shares of Mazor Robotics in a report on Thursday, October 6th. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, Barclays PLC raised their target price on shares of Mazor Robotics from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $26.25.
Mazor Robotics (NASDAQ:MZOR) opened at 20.34 on Friday. Mazor Robotics has a 1-year low of $8.31 and a 1-year high of $26.55. The company’s 50-day moving average price is $23.19 and its 200 day moving average price is $19.82. The firm’s market capitalization is $440.83 million.
Hedge funds have recently added to or reduced their stakes in the stock. Iguana Healthcare Management LLC boosted its stake in Mazor Robotics by 384.6% in the first quarter. Iguana Healthcare Management LLC now owns 121,151 shares of the company’s stock valued at $1,507,000 after buying an additional 96,151 shares during the period. Trellus Management Company LLC boosted its stake in Mazor Robotics by 11.6% in the second quarter. Trellus Management Company LLC now owns 23,982 shares of the company’s stock valued at $431,000 after buying an additional 2,500 shares during the period. Candriam Luxembourg S.C.A. bought a new stake in Mazor Robotics during the second quarter valued at $1,079,000. Cookson Peirce & Co. Inc. bought a new stake in Mazor Robotics during the second quarter valued at $192,000. Finally, EAM Investors LLC bought a new stake in Mazor Robotics during the second quarter valued at $2,348,000. Institutional investors and hedge funds own 18.72% of the company’s stock.
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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