MAKO Surgical survey shows solid utilization trends, says Piper Jaffray
Piper Jaffray said its survey of existing MAKO Surgical sites indicates continued solid utilization and satisfaction with the Rio robotic arm surgical system. Piper said it has greater conviction in MAKO following the survey and reiterates an Overweight rating on the stock with a $28 price target.
Sentiment: Strong Buy
Very good trending.
Also, very telling is that Mako has announced that Ferre and LaPorte will be presenting at the JP Morgan Healthcare Conference on Jan 9th. The timing of this is so that Mako will have 4Q numbers to pre-release by then. As some of you may recall, it was at this event last year that Mako announced blow out RIO sales and procedures for 4Q11 and the stock price shot upwards of $30+.
It would be very dumb of Ferre to schedule this unless Mako has a good idea of what the qtr is looking like, and they would have to be meeting expectation at the very least for Ferre speaking to make any sense. i will be listening in counting the number of "you knows" :-) Here's the announcement:
FT. LAUDERDALE, Fla., Dec. 19, 2012 (GLOBE NEWSWIRE) -- MAKO Surgical Corp. (Nasdaq: MAKO) announced today that Maurice R. Ferré, M.D., President and Chief Executive Officer and Fritz L. LaPorte, Senior Vice President and Chief Financial Officer of MAKO, will present at the 31st Annual J.P. Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco on Wednesday, January 9, 2013 at 7:30 am PT.
Good point. I'm optimistic as after Q2 Ferre had said they were going to stop doing presentations for awhile and concentrate on sales. JP Morgan predicted the unit sales beat last quarter based on "channel checks". Sounds like utilization rates are back up in Q4 as promised last quarter.
Sentiment: Strong Buy
Piper has been relentlessly wrong on MAKO though, though, and is a bit conflicted. After the May miss news, Piper lowered target: from $50 to $49, but called it a buy opp. And lowered target again after the second miss but continued to tout as a buy.
They may get it right this time. MAKO just presented at Piper's conference in late November. And i don't mind someone touting my position, but I take what they say with a grain of salt. Nice to see the stock acting strong for a couple of days.