Canaccord Genuity reiterated their buy rating on shares of Rewalk Robotics (NASDAQ:RWLK) in a report released on Monday morning. They currently have a $2.00 target price on the medical device company’s stock.
“We maintain our BUY rating on ReWalk Robotics following Q4/17 results. ReWalk reported revenues of $1.5M, below CG/consensus of $2.1M/$1.9M. Although the shipment of 23 systems was well below our expectation for 42 systems, ReWalk sales benefited from a favorable mix of system purchases and rental conversions in the quarter. Despite the weaker than anticipated system placements, we were encouraged to see another quarter of strong demand and another positive coverage decision with reimbursement through Italy’s worker’s compensation group. While commercial unit placements continue to be lumpy Q/Q we continue to view the broader pipeline (Restore soft suit for stroke) positively in the H2/18 and beyond. Positive momentum in demand and reimbursement decisions: In Q4/17 the company placed 23 total units, down from 39 Y/Y but up Q/Q from 16.”,” Canaccord Genuity’s analyst commented.
Several other equities analysts also recently issued reports on the company. Oppenheimer set a $3.00 price objective on Rewalk Robotics and gave the company a buy rating in a research report on Tuesday, December 26th. Zacks Investment Research cut Rewalk Robotics from a buy rating to a hold rating in a research note on Thursday, January 4th. Piper Jaffray Companies reissued a buy rating and issued a $3.00 target price on shares of Rewalk Robotics in a research note on Sunday, January 7th. ValuEngine raised Rewalk Robotics from a strong sell rating to a sell rating in a research note on Friday, February 2nd. Finally, Barclays reissued a sell rating and issued a $1.00 target price on shares of Rewalk Robotics in a research note on Friday, March 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Rewalk Robotics currently has an average rating of Hold and a consensus price target of $2.58.
Rewalk Robotics (NASDAQ:RWLK) last issued its quarterly earnings data on Thursday, March 8th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.06. Rewalk Robotics had a negative return on equity of 678.44% and a negative net margin of 318.81%. The firm had revenue of $1.52 million during the quarter, compared to the consensus estimate of $1.76 million.
An institutional investor recently raised its position in Rewalk Robotics stock. Advisor Group Inc. grew its position in Rewalk Robotics Ltd (NASDAQ:RWLK) by 73.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 314,650 shares of the medical device company’s stock after buying an additional 132,750 shares during the period. Advisor Group Inc. owned 1.09% of Rewalk Robotics worth $347,000 at the end of the most recent reporting period. Institutional investors own 2.60% of the company’s stock.
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Rewalk Robotics Company Profile
ReWalk Robotics Ltd. is a medical device company. The Company is engaged in designing, developing and commercializing exoskeletons that allow individuals with mobility impairments or other medical conditions the ability to stand and walk once again. The Company offers ReWalk, which is an exoskeleton that uses its tilt-sensor technology and an on-board computer and motion sensors to drive motorized legs that power movement.
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