Barclays Maintains Mazor Robotics Ltd – ADR to Overweight with Price Target $23.00

Brokerage firm Barclays Maintains its rating on Mazor Robotics Ltd – ADR(NASDAQ:MZOR). In a research note issued to the investors, the brokerage major Raises the price-target to $23.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Jul 14, 2016.

In a different note, On May 31, 2016, Sterne Agee CRT said it Downgrades its rating on Mazor Robotics Ltd – ADR. The shares have been rated ‘Neutral’ by the firm. On May 19, 2016, Wells Fargo said it Upgrades its rating on Mazor Robotics Ltd – ADR. The shares have been rated ‘Outperform’ by the firm.

Mazor Robotics Ltd – ADR (MZOR) shares turned negative on Mondays trading session with the shares closing down -0.51 points or -2.54% at a volume of 84,407. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $20.13. The peak price level was also seen at $20.13 while the days lowest was $19.5. Finally the shares closed at $19.6. The 52-week high of the shares is $21.47 while the 52-week low is $8.31. According to the latest information available, the market cap of the company is $417 M.

Mazor Robotics Ltd – ADR(MZOR) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $6.42M. Analysts had an estimated revenue of $6.63M. Earnings per share were $-0.10. Analysts had estimated an EPS of $-0.18.

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.

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