Canaccord Genuity Cuts Numbers on MAKO Surgical (MAKO); Q1 Brought Down By Weak Systems Sales

May 8, 2012 9:17 AM EDT
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Price: $29.99 --0%

Rating Summary:
    3 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity reiterates a 'Hold' on MAKO Surgical (NASDAQ: MAKO) price target lowered from $33 to $29.00.

Analyst, William J. Plovanic, said, "We reiterate our rating following disappointing Q1/12 results that came in below our and consensus estimates. Systems sales were soft, causing management to update full year guidance. Additionally, hip continues to be a central theme to the story (and valuation) and in its early state of commercialization remains more of a “technology value” than tangible revenue stream. We do become more interested at $25."

For an analyst ratings summary and ratings history on MAKO Surgical click here. For more ratings news on MAKO Surgical click here.

Shares of MAKO Surgical closed at $41.40 yesterday.

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