Shares of Mazor Robotics Ltd. MZOR increased 3.9% to close at $10.30 on Dec 23, following the receipt of three additional orders for its Renaissance system. The company most recently announced the sale of four systems in the fourth quarter ending Dec 31, 2015.
Mazor also announced the sale of the #100 Renaissance systems in the quarter. The system was purchased by UConn Health located in Farmington, CT, which installed the system at its John Dempsey Hospital.
The additional orders for the Renaissance system reflect growing adoption among customers. Notably, Mazor ended third-quarter 2015 with 96 Renaissance systems (56 in the U.S. market) compared with 77 (44 systems in the U.S.) in the year-ago quarter.
In the reported quarter, Major Robotics sold 3 Renaissance systems compared with 5 systems in the year-ago quarter. The additional three orders take the tally to 7 Renaissance systems in the fourth quarter as compared with 6 sold globally in the year-ago quarter.
Meanwhile, Mazor recently presented positive clinical data for its PROlif Lateral solution at the Society for Minimally Invasive Spine Surgery (SMISS) Global Forum. PROlif Lateral solution guides surgeons in placing pedicle screws accurately while the patient is in lateral decubitus position. The solution reduces operating time by eliminating the need to flip the patient into prone position after an extreme lateral procedure.
Positive clinical data marks an important milestone for Mazor as it shows that the company is still investing in innovative products. We believe the integration of PROlif Lateral solution into the Renaissance system will further enhance system popularity among surgeons over the long haul.
The company’s newly launched PRO solutions (include solutions for spinal deformity surgery, trauma and lateral procedures) will also allow the company to deliver comprehensive solutions for specific procedures. However, sluggish U.S. sales coupled with continuing investments will hurt profits in the near term.
Zacks Rank & Other Key Picks
Currently, Mazor Robotics carries a Zacks Rank #2 (Buy).
other favorably ranked stocks in the same space are Fluidigm FLDM, Steris STE and Masimo MASI. All the stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment