Leerink Swann Raises Valuation on MAKO Surgical (MAKO), Weak Margins Within Hip Market
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Price: $10.50 +0.96%
Rating Summary:
1 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
1 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Leerink Swann is reaffirming its Market Perform rating on shares of MAKO Surgical (NASDAQ: MAKO) and is raising its price target from $23 to $37.
The firm is increasing its estimates for MAKO following the commercial launch of of its robotic hip solution. The world wide hip market is valued at $5-$6 billion dollars. Leerink raised its revenue estimates for 2011-2013 by $2 million, $12 million, and $23 million.
Leerink Swann notes that, "MAKO will collect an additional ~$200K every time the hip software is activated/installed on new/existing systems; and higher procedure volume estimates as we expect the additional hip procedures to increase per system utilization."
Due to weak margins in the hip market and the firm's anticipation that MAKO will invest heavily into the launch in the hip market, Leerink is reducing its EPS estimates for 2011-2013 from ($0.82), ($0.26), and $0.23 to ($0.84), ($0.48), and $0.06.
For more ratings news on MAKO Surgical click here and for the rating history of MAKO Surgical click here.
Shares of MAKO Surgical closed at $34.93 yesterday.
The firm is increasing its estimates for MAKO following the commercial launch of of its robotic hip solution. The world wide hip market is valued at $5-$6 billion dollars. Leerink raised its revenue estimates for 2011-2013 by $2 million, $12 million, and $23 million.
Leerink Swann notes that, "MAKO will collect an additional ~$200K every time the hip software is activated/installed on new/existing systems; and higher procedure volume estimates as we expect the additional hip procedures to increase per system utilization."
Due to weak margins in the hip market and the firm's anticipation that MAKO will invest heavily into the launch in the hip market, Leerink is reducing its EPS estimates for 2011-2013 from ($0.82), ($0.26), and $0.23 to ($0.84), ($0.48), and $0.06.
For more ratings news on MAKO Surgical click here and for the rating history of MAKO Surgical click here.
Shares of MAKO Surgical closed at $34.93 yesterday.
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