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Mazor Robotics at a 52-Week High: What's Driving the Stock?
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Shares of Israel-based developer of robotic technology and products, Mazor Robotics Ltd. , rallied to a new 52-week high of $45.64 on May 18, eventually closing a little lower at $42.68. This represents a strong one-year return of about 185%, much better than the S&P 500’s return of 14.2%.
Mazor has had an impressive run on the bourse on a year-to-date basis. The company has gained roughly 94.1%, higher than the Zacks categorized Medical Instruments sub-industry’s addition of just 12.5%.
The stock has a market cap of $1.03 billion and carries a Zacks Rank #3 (Hold). Let us take a look at the key catalysts driving the stock’s performance.
Mazor recently announced the installation of a Mazor X system at Houston Methodist Hospital in Texas. In the last reported quarter, the company had received purchase orders for six Mazor X systems. Since the launch of the Mazor X system, Mazor has received a total of 43 cumulative orders in the platform.
Solid Revenue Growth in Q1
Mazor reported total revenue of $11.7 million, marginally beating the Zacks Consensus Estimate of $11 million. Notably, revenues marked an 83% increase on a year-over-year basis. The solid performance was driven by several factors like strong sales order and pipeline for the new Mazor X system and the continued utilization of the Renaissance installed base.
Capital sales revenues were $6.5 million in the first quarter of 2017, reflecting a 150% increase from $2.6 million in the first quarter of 2016. Recurring revenue from system kit sales, service and other increased 37% on a year-over-year basis to $5.2 million.
Geographically, revenues in the U.S. rose 100% to $11.2 million from $5.6 million in the year-ago quarter.
Favorable Regulatory Developments
Earlier this quarter, Mazor announced the receipt of FDA clearance for its Mazor X Align software. The Mazor X Align software is designed to assist surgeons in planning spinal deformity correction and spinal alignment for procedures performed with the Mazor X Surgical Assurance Platform.
Taking this development into consideration, we are encouraged by the opportunities in the global spine surgery market. A research report by Markets And Markets suggests that the niche markets will reach a worth of $17.27 billion by 2021, multiplying at a CAGR of 5.3%.
Inogen promises a long-term adjusted earnings growth of almost 17.5%. The stock returned 81.5% over the last one year.
Luminex has an expected long-term adjusted earnings growth of almost 16.3%. The stock added roughly 6.4% over the last three months.
Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 29.2%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
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Mazor Robotics at a 52-Week High: What's Driving the Stock?
Shares of Israel-based developer of robotic technology and products, Mazor Robotics Ltd. , rallied to a new 52-week high of $45.64 on May 18, eventually closing a little lower at $42.68. This represents a strong one-year return of about 185%, much better than the S&P 500’s return of 14.2%.
Mazor has had an impressive run on the bourse on a year-to-date basis. The company has gained roughly 94.1%, higher than the Zacks categorized Medical Instruments sub-industry’s addition of just 12.5%.
The stock has a market cap of $1.03 billion and carries a Zacks Rank #3 (Hold). Let us take a look at the key catalysts driving the stock’s performance.
Mazor Robotics Ltd. Price and Consensus
Mazor Robotics Ltd. Price and Consensus | Mazor Robotics Ltd. Quote
Growing Installations at Mazor X System
Mazor recently announced the installation of a Mazor X system at Houston Methodist Hospital in Texas. In the last reported quarter, the company had received purchase orders for six Mazor X systems. Since the launch of the Mazor X system, Mazor has received a total of 43 cumulative orders in the platform.
Solid Revenue Growth in Q1
Mazor reported total revenue of $11.7 million, marginally beating the Zacks Consensus Estimate of $11 million. Notably, revenues marked an 83% increase on a year-over-year basis. The solid performance was driven by several factors like strong sales order and pipeline for the new Mazor X system and the continued utilization of the Renaissance installed base.
Capital sales revenues were $6.5 million in the first quarter of 2017, reflecting a 150% increase from $2.6 million in the first quarter of 2016. Recurring revenue from system kit sales, service and other increased 37% on a year-over-year basis to $5.2 million.
Geographically, revenues in the U.S. rose 100% to $11.2 million from $5.6 million in the year-ago quarter.
Favorable Regulatory Developments
Earlier this quarter, Mazor announced the receipt of FDA clearance for its Mazor X Align software. The Mazor X Align software is designed to assist surgeons in planning spinal deformity correction and spinal alignment for procedures performed with the Mazor X Surgical Assurance Platform.
Taking this development into consideration, we are encouraged by the opportunities in the global spine surgery market. A research report by Markets And Markets suggests that the niche markets will reach a worth of $17.27 billion by 2021, multiplying at a CAGR of 5.3%.
Key Picks
Better-ranked stocks in the broader medical sector include Luminex Corporation , Hologic, Inc. (HOLX - Free Report) and Inogen Inc (INGN - Free Report) . Notably, Inogen and Luminex sport a Zacks Rank #1 (Strong Buy), while Hologic carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen promises a long-term adjusted earnings growth of almost 17.5%. The stock returned 81.5% over the last one year.
Luminex has an expected long-term adjusted earnings growth of almost 16.3%. The stock added roughly 6.4% over the last three months.
Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 29.2%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>