Mazor Robotics (MZOR) Receives Hold Rating from Needham & Company LLC

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Needham & Company LLC restated their hold rating on shares of Mazor Robotics (NASDAQ:MZOR) in a report published on Wednesday morning.

“MZOR reported revenue and EPS that were below consensus. On 11/19/18, MZOR will hold a shareholder vote to confirm MDT’s proposed acquisition. We see no reason to believe the deal will not be confirmed and we maintain our Hold rating.”,” the firm’s analyst commented.

Other research analysts have also recently issued reports about the company. BidaskClub upgraded Mazor Robotics from a buy rating to a strong-buy rating in a research note on Friday, October 12th. Zacks Investment Research cut Mazor Robotics from a hold rating to a sell rating in a research note on Thursday, August 9th. Finally, ValuEngine cut Mazor Robotics from a buy rating to a hold rating in a research note on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Mazor Robotics has a consensus rating of Hold and an average price target of $59.90.

Shares of NASDAQ MZOR opened at $58.32 on Wednesday. Mazor Robotics has a fifty-two week low of $41.60 and a fifty-two week high of $76.56.

Large investors have recently made changes to their positions in the company. Natixis raised its stake in shares of Mazor Robotics by 7.4% in the second quarter. Natixis now owns 57,273 shares of the medical instruments supplier’s stock worth $3,179,000 after purchasing an additional 3,953 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Mazor Robotics by 217.2% in the second quarter. First Allied Advisory Services Inc. now owns 14,562 shares of the medical instruments supplier’s stock worth $806,000 after purchasing an additional 9,971 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Mazor Robotics in the second quarter worth about $240,000. Alps Advisors Inc. purchased a new position in shares of Mazor Robotics in the second quarter worth about $279,000. Finally, Global X Management Co LLC raised its position in Mazor Robotics by 19.7% during the second quarter. Global X Management Co LLC now owns 506,196 shares of the medical instruments supplier’s stock valued at $28,099,000 after acquiring an additional 83,387 shares in the last quarter. Hedge funds and other institutional investors own 21.71% of the company’s stock.

About Mazor Robotics

Mazor Robotics Ltd., together with its subsidiaries, engages in the development, production, and marketing of medical devices for supporting surgical procedures in the fields of orthopedics and neurosurgery in the United States and internationally. It operates in the field of computer assisted surgery that enable the use of surgical instruments with high precision and minimal invasiveness and that simplifies complex surgical procedures.

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