Mazor Robotics (NASDAQ:MZOR) was upgraded by investment analysts at Needham & Company LLC from an “underperform” rating to a “hold” rating in a note issued to investors on Friday, September 21st, Marketbeat Ratings reports.

Other equities research analysts have also issued research reports about the company. ValuEngine raised Mazor Robotics from a “hold” rating to a “buy” rating in a report on Friday, September 7th. BidaskClub raised Mazor Robotics from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Zacks Investment Research raised Mazor Robotics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Cantor Fitzgerald started coverage on Mazor Robotics in a research note on Thursday, May 31st. They set a “neutral” rating and a $57.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $61.08.

Shares of NASDAQ MZOR traded up $0.15 during midday trading on Friday, reaching $58.01. 1,355,874 shares of the company were exchanged, compared to its average volume of 536,200. Mazor Robotics has a 1 year low of $41.60 and a 1 year high of $76.56. The firm has a market cap of $1.54 billion, a P/E ratio of -116.02 and a beta of 1.43.

Mazor Robotics (NASDAQ:MZOR) last announced its quarterly earnings data on Thursday, August 2nd. The medical instruments supplier reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.13). Mazor Robotics had a negative net margin of 12.80% and a negative return on equity of 7.17%. The business had revenue of $13.20 million during the quarter, compared to analysts’ expectations of $17.02 million. During the same period in the prior year, the firm posted ($0.05) EPS. Mazor Robotics’s revenue for the quarter was down 14.8% compared to the same quarter last year. On average, equities analysts forecast that Mazor Robotics will post -0.12 EPS for the current year.

Several institutional investors have recently modified their holdings of MZOR. Wells Fargo & Company MN raised its position in shares of Mazor Robotics by 7.1% during the 1st quarter. Wells Fargo & Company MN now owns 76,550 shares of the medical instruments supplier’s stock worth $4,697,000 after purchasing an additional 5,071 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Mazor Robotics during the 1st quarter worth approximately $1,112,000. Private Advisor Group LLC raised its position in shares of Mazor Robotics by 37.3% during the 1st quarter. Private Advisor Group LLC now owns 8,935 shares of the medical instruments supplier’s stock worth $548,000 after purchasing an additional 2,426 shares during the last quarter. First Allied Advisory Services Inc. acquired a new position in Mazor Robotics in the 1st quarter valued at $281,000. Finally, BB&T Securities LLC raised its holdings in Mazor Robotics by 50.8% in the 1st quarter. BB&T Securities LLC now owns 11,668 shares of the medical instruments supplier’s stock valued at $715,000 after acquiring an additional 3,933 shares during the last quarter. Hedge funds and other institutional investors own 23.98% of the company’s stock.

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. It operates in the field of computer assisted surgery that enable the use of surgical instruments with high precision and minimal invasiveness and that simplifies complex surgical procedures.

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Analyst Recommendations for Mazor Robotics (NASDAQ:MZOR)

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