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Mazor Robotics Ltd. (MZOR) 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.
The company operates in the field of image guided surgery and computer assisted surgery that enable the use of surgical instruments with high precision and minimal invasiveness.
It offers Mazor X surgical guidance system and Renaissance surgical guidance system that transform spine surgery from freehand procedures to guide procedures. The company has a close working relatiionship with Medtronics (MDT).
The firm reported its quarterly results on November 6th. Revenue for the three months ended September 30, 2017 increased 126% to $17.2 million compared to $7.6 million in the year-ago third quarter. U.S. revenue increased 170% to $15.4 million compared to $5.7 million in the year-ago third quarter, as the Company recognized revenue from 17 systems (16 Mazor X and one Renaissance) compared to six systems (three Mazor X and three Renaissance) in the third quarter of 2016. International revenue was $1.8 million compared to $1.9 million in the year-ago third quarter. Recurring revenue from kits sales, services and other increased 63% to $7.0 million in the third quarter of 2017 compared to $4.3 million in the year-ago third quarter, which is primarily attributed to the higher system installed base. The Company ended the quarter with a backlog of 17 systems (15 Mazor X and two Renaissance).
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.
52-Weeks Trading Range: $20.50 - $65.97
Entry Point: $59.20
Stop Loss: $56.20
Target Price: $65.12
MZOR closed at $56 after CEO charged with insiders trading
