Mazor Robotics Ltd. (NASDAQ:MZOR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, November 9th.
According to Zacks, “Mazor Robotics Ltd. is engaged in the development, production and marketing of medical devices for surgical procedures in the fields of orthopedics and neurosurgery. It offers Renaissance(TM), a surgical robotic system to conduct spine surgeries with less radiation. The company operates in the United States, Eastern Europe, Western Europe and Asia. Mazor Robotics Ltd. is based in Caesarea, Israel. “
MZOR has been the subject of several other research reports. Ladenburg Thalmann Financial Services set a $67.00 price target on shares of Mazor Robotics and gave the stock a “buy” rating in a research note on Monday, October 30th. Barclays PLC cut shares of Mazor Robotics from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $55.00 to $34.00 in a research report on Thursday, October 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Mazor Robotics in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.83.
Shares of Mazor Robotics (NASDAQ MZOR) traded up $2.43 during midday trading on Thursday, reaching $61.83. The company’s stock had a trading volume of 693,900 shares, compared to its average volume of 417,103. Mazor Robotics has a 52 week low of $20.50 and a 52 week high of $65.97.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Mazor Robotics by 107.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,811 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 1,973 shares during the last quarter. AlphaStar Capital Management LLC acquired a new stake in shares of Mazor Robotics in the third quarter valued at approximately $414,000. Crawford Lake Capital Management LLC acquired a new stake in shares of Mazor Robotics in the third quarter valued at approximately $4,554,000. Private Advisor Group LLC grew its position in shares of Mazor Robotics by 17.3% in the third quarter. Private Advisor Group LLC now owns 14,834 shares of the medical instruments supplier’s stock valued at $780,000 after purchasing an additional 2,189 shares during the last quarter. Finally, Fagan Associates Inc. grew its position in shares of Mazor Robotics by 22.2% in the third quarter. Fagan Associates Inc. now owns 26,200 shares of the medical instruments supplier’s stock valued at $1,293,000 after purchasing an additional 4,760 shares during the last quarter. Institutional investors own 26.61% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mazor Robotics Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mazor Robotics Ltd. and related companies with our FREE daily email newsletter.