Mazor Robotics Ltd – ADR (MZOR) is Upgraded by Wells Fargo to Outperform

Mazor Robotics Ltd – ADR (MZOR) was Upgraded by Wells Fargo to ” Outperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on May 19, 2016.

On the company’s financial health, Mazor Robotics Ltd – ADR reported $-0.10 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $-0.07. The company had revenue of $6.40 million for the quarter, compared to analysts expectations of $6.63 million. The company’s revenue was up 42.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 EPS.

Mazor Robotics Ltd – ADR opened for trading at $10.5 and hit $10.7399 on the upside on Monday, eventually ending the session at $10.63, with a gain of 2.71% or 0.28 points. The heightened volatility saw the trading volume jump to 53,998 shares. Company has a market cap of $226 M.

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. Its Renaissance System and its predecessor are used in a number of spine surgeries including fusion correction of spinal deformities biopsy collection tumor excision and cement augmentations. Furthermore the Company developed the Renaissance Brain Module an application of its Renaissance System that provides control over the insertion of surgical instruments during brain surgery.

Mazor Robotics Ltd - ADR

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