See theflyonthewall.c*m: 08:04 EDT. MAKO Surgical should benefit from new product, says Wells Fargo
After meeting with MAKO's CEO, Wells Fargo reports that the launch of the company's hip v2.1 product is progressing well, and the firm expects the product to drive an increase in hip procedures. Wells also reports that MAKO has not seen a negative impact from Intuitive Surgical's (ISRG) difficulties or a change in the hospital capital spending environment. The firm thinks the company can meet its 2013 guidance and maintains an Outperform rating on the shares.
Lol. I love that. Wells Fargo is a big deal and a reiteration of the Outperform is great. They just raised the PT 25-30% some 6 weeks ago (to $15-$17) otherwise they might have done it again. I read a beat for H2 between the lines of MAKO's recent comments and this conversation with Wells Fargo. No effect from ISRG and hospitals not walking away with their checkbooks? Niiiice. Now prove it Maurice! =)
K.....I am all for that sentiment. In the past year 2-3 the 2nd half of the years has always been better.
It seems like the traction has held on for a little here. Thanks to you and Don for ALL the great info you supply us.