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 Tuesday.

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. “

A number of other research firms have also weighed in on MZOR. JMP Securities lowered Mazor Robotics from an “outperform” rating to a “market perform” rating in a report on Friday, May 12th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “hold” rating on shares of Mazor Robotics in a report on Thursday, May 11th. First Analysis lowered Mazor Robotics from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $28.00 to $38.00 in a report on Thursday, May 11th. Wells Fargo & Company lowered Mazor Robotics from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Finally, ValuEngine upgraded Mazor Robotics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $33.50.

Shares of Mazor Robotics (NASDAQ:MZOR) opened at 41.53 on Tuesday. The stock has a 50 day moving average of $37.52 and a 200-day moving average of $28.88. The company’s market cap is $991.53 million. Mazor Robotics has a 12 month low of $19.20 and a 12 month high of $45.64.

Mazor Robotics (NASDAQ:MZOR) last announced its quarterly earnings data on Wednesday, May 10th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by $0.02. The firm had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $11.49 million. Mazor Robotics had a negative return on equity of 30.90% and a negative net margin of 45.08%. The company’s revenue was up 82.8% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS. Equities analysts forecast that Mazor Robotics will post ($0.87) earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Mazor Robotics by 398.5% in the first quarter. JPMorgan Chase & Co. now owns 6,979 shares of the medical instruments supplier’s stock valued at $208,000 after buying an additional 5,579 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Mazor Robotics during the first quarter valued at $225,000. Point72 Asset Management L.P. bought a new stake in shares of Mazor Robotics during the first quarter valued at $709,000. Menta Capital LLC bought a new stake in shares of Mazor Robotics during the first quarter valued at $815,000. Finally, Messner & Smith Theme Value Investment Management Ltd. CA bought a new stake in shares of Mazor Robotics during the first quarter valued at $872,000. Institutional investors own 27.13% of the company’s stock.

About Mazor Robotics

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.

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