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Mazor Expects Higher Q2 Revenues, Wins Mazor X Orders
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Israel-based developer of robotic technology and products, Mazor Robotics Ltd. , recently announced that it expects to report second-quarter 2017 revenue of approximately $15.4 million compared with $8.3 million from the year-ago quarter. The bullishness comes from the strength in Mazor X system sales and increased procedure volume.
Stock Performance
Lately, the price performance of Mazor X has been encouraging. In the last three months, the stock increased 37.60%, outperforming the Zacks classified Medical Instruments sub-industry’s gain of roughly 9.21%. The stock’s current return was higher than the S&P 500’s return of 4.45% over the same time frame.
Despite the bullish price trend, estimates revision for the stock has been quite disappointing. The full year saw two estimates moving south in the last two months, compared with no movement in the opposite direction. As a result, the estimate dropped to a loss of 89 cents per share from a loss of 88 cents per share over the aforementioned period.
Behind Mazor X’s Strength
During the second quarter, Mazor Robotics received purchase orders for sixteen Mazor X systems in the U.S. In addition, the company received purchase orders for three Renaissance systems, including two in the international market and one in the U.S. market.
Mazor X is a transformative guidance system for simplifying spine surgeries with advanced features and ‘sophisticated integrative abilities’. Strong demand for Mazor X systems during the second quarter brought backlog to 14 since its introduction in the second half of 2016. The company is slated to report its financial results for the second quarter ended Jun 30, in August.
Bottom Line
We are hopeful about the encouraging global spine surgery market. A research report by Markets And Markets suggests that the niche markets are estimated to reach $17.27 billion by 2021, multiplying at a CAGR of 5.3%.
In fact, the increasing utilization rate of Mazor X is quite compelling for the company. We believe that the commercialization cycle of the Mazor X platform is progressing per plans with a growing customer base.
Meanwhile, the Medtronic agreement paves the way to develop synergistic products utilizing Mazor Robotics’ precision guided surgery know-how, advanced software capabilities and Medtronic’s implant product portfolio.
Inogen has a long-term expected earnings growth rate of 17.50%. Notably, the stock represents an impressive one-year return of 100%.
Mesa Laboratories has a positive earnings surprise of 2.84% over the last four quarters. Notably, the stock represents an impressive one-year return of 16.7%.
Edap Tms represents a stellar one-year return of 2.2% for the last three months. The company provided a solid earnings surprise of 533.3% in the last reported quarter.
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Mazor Expects Higher Q2 Revenues, Wins Mazor X Orders
Israel-based developer of robotic technology and products, Mazor Robotics Ltd. , recently announced that it expects to report second-quarter 2017 revenue of approximately $15.4 million compared with $8.3 million from the year-ago quarter. The bullishness comes from the strength in Mazor X system sales and increased procedure volume.
Stock Performance
Lately, the price performance of Mazor X has been encouraging. In the last three months, the stock increased 37.60%, outperforming the Zacks classified Medical Instruments sub-industry’s gain of roughly 9.21%. The stock’s current return was higher than the S&P 500’s return of 4.45% over the same time frame.
Despite the bullish price trend, estimates revision for the stock has been quite disappointing. The full year saw two estimates moving south in the last two months, compared with no movement in the opposite direction. As a result, the estimate dropped to a loss of 89 cents per share from a loss of 88 cents per share over the aforementioned period.
Behind Mazor X’s Strength
During the second quarter, Mazor Robotics received purchase orders for sixteen Mazor X systems in the U.S. In addition, the company received purchase orders for three Renaissance systems, including two in the international market and one in the U.S. market.
Mazor X is a transformative guidance system for simplifying spine surgeries with advanced features and ‘sophisticated integrative abilities’. Strong demand for Mazor X systems during the second quarter brought backlog to 14 since its introduction in the second half of 2016. The company is slated to report its financial results for the second quarter ended Jun 30, in August.
Bottom Line
We are hopeful about the encouraging global spine surgery market. A research report by Markets And Markets suggests that the niche markets are estimated to reach $17.27 billion by 2021, multiplying at a CAGR of 5.3%.
In fact, the increasing utilization rate of Mazor X is quite compelling for the company. We believe that the commercialization cycle of the Mazor X platform is progressing per plans with a growing customer base.
Meanwhile, the Medtronic agreement paves the way to develop synergistic products utilizing Mazor Robotics’ precision guided surgery know-how, advanced software capabilities and Medtronic’s implant product portfolio.
Zacks Rank & Key Picks
Currently, Mazor has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical sector are Inogen Inc. (INGN - Free Report) , Mesa Laboratories, Inc. (MLAB - Free Report) and Edap Tms S.a. (EDAP - Free Report) . Notably, all the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen has a long-term expected earnings growth rate of 17.50%. Notably, the stock represents an impressive one-year return of 100%.
Mesa Laboratories has a positive earnings surprise of 2.84% over the last four quarters. Notably, the stock represents an impressive one-year return of 16.7%.
Edap Tms represents a stellar one-year return of 2.2% for the last three months. The company provided a solid earnings surprise of 533.3% in the last reported quarter.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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