(Published Sept. 21, 2017)
Mazor Robotics (MZOR) announced Wednesday that the company received CE Mark (European Conformity Mark) approval for its Mazor X platform.
This opens the door wider in Europe for marketing of the surgical assurance platform for both Mazor and its commercial partner Medtronic (MDT).
Although not on the same level as an FDA approval, this is a big step in the right direction toward international growth, which has mainly been driven by the legacy Renaissance platform.
Given the global spinal market is estimated to reach $17 billion by 2021 and Mazor’s current share is less than 1%, the combination of this CE Mark approval plus the recent expanded partnership with Medtronic should result in huge revenue growth numbers for many years to come.
Those numbers likely exceeded current Wall Street estimates.
Shares are up some 44% from our targeted entry, so some profit-taking could be considered. But we believe shares are likely to double in the next two to three years as sales in Europe will begin to help the bottom line.
Since its inception on July 5, recommended stocks by Stirling Strategic Investor have returned 6.62% by Sept. 11 vs. the S&P return of 3.32%.
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