"Today is a historic day for spine surgery and a defining event in the market's evolution, and I want to acknowledge and thank all of those whose contribution and faith have been so critical and impactful to our success", Mazor Robotics CEO Ori Hadomi said in a statement. The company operates in the United States, Eastern Europe, Western Europe and Asia.
MZOR has been the subject of a number of analyst reports.
As if offering further proof that business is booming, Mazor and Medtronic are also expected to introduce the Mazor X Stealth Station at the NASS 2018 Annual Meeting, taking place in Los Angeles later this month.
In August 2017, Medtronic became the sole worldwide distributor of the Mazor X robotic guidance system. Finally, Cantor Fitzgerald initiated coverage on shares of Mazor Robotics in a research report on Thursday, May 31st. They set a neutral rating and a $57.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. That's an 11% premium over the closing price in NY, but far below a peak of nearly US$75 reached in March. The medical device giant's bolstering of Mazor sent the Israeli company's stock soaring. Mazor Robotics Ltd - has a 52 week low of $41.60 and a 52 week high of $76.56.
Mazor's Nasdaq-listed ADRs hit an all-time high of $74.82 in February but have declined since, and poor second quarter results in August pushed the stock down to $42.65. The medical instruments supplier reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters' 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 firm had revenue of $13.20 million for the quarter, compared to the consensus estimate of $17.02 million. The business's revenue for the quarter was up 6.4% compared to the same quarter previous year.
Medtronic expects the transaction to be "modestly dilutive" to its fiscal 2019 adjusted earnings per share.
Large investors have recently made changes to their positions in the stock. Finally, Jane Street Group LLC raised its holdings in shares of Mazor Robotics by 1,358.5% during the second quarter. Iguana Healthcare Management LLC now owns 200,000 shares of the company's stock worth $3,596,000 after buying an additional 75,000 shares in the last quarter. Nepsis Inc. boosted its stake in shares of Mazor Robotics by 1.4% during the second quarter. Marshall Wace LLP acquired a new stake in Mazor Robotics during the 2nd quarter valued at approximately $240,000. Global X Management Co LLC raised its holdings in shares of Mazor Robotics by 19.7% during the second quarter. First Allied Advisory Services Inc. now owns 14,562 shares of the medical instruments supplier's stock valued at $806,000 after buying an additional 9,971 shares in the last quarter. Nepsis Inc. now owns 102,560 shares of the medical instruments supplier's stock valued at $5,693,000 after purchasing an additional 1,408 shares during the period. Institutional investors and hedge funds own 18.72% of the company's stock.
Mazor's core platform technology, including its Mazor X Robotic Guidance System and the Renaissance Surgical Guidance System, are working towards making improvements in the spinal surgery sector. It develops computerized and imaging-based systems in the field of spine surgery.