Needham Reaffirms Their Sell Rating on Mazor Robotics


Needham analyst Michael Matson maintained a Sell rating on Mazor Robotics (NASDAQ: MZOR) today. The company’s shares opened today at $54.55.

Matson noted:

“MZOR beat consensus revenue and met consensus EPS. We estimate that MZOR placed 14 systems in 1Q18, which is down sequentially from 24 in 4Q17 and below our estimate of 15. MZOR plans to integrate the Mazor X with MDT’s StealthStation navigation system by the end of 2018. But we don’t expect this to have a material impact on sales until 2019 and in the meantime we think the Mazor X remains at a disadvantage to GMED’s ExcelsiusGPS which already offers navigation. MZOR’s recurring revenue was stronger than expected and we suspect that this was helped by additional MDT stocking orders that are unlikely to be sustained for the remainder of the year. As a result, we maintain our Underperform rating.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.5% and a 62.8% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

Mazor Robotics has an analyst consensus of Moderate Sell.

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Based on Mazor Robotics’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $449.4K. In comparison, last year the company had a GAAP net loss of $5.4 million.

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Mazor Robotics Ltd. is a medical device company, which engages in the development and marketing of innovative surgical guidance systems and complementary products. It specializes in robotic, computerized and imaging-based systems, primarily in the field of spine surgery.

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