Oppenheimer Initiates Coverage on MAKO Surgical with Perform Rating

In a report released earlier today, Oppenheimer Holdings announced it is initiating coverage of MAKO Surgical Corp.

with a Perform rating, but did not set a price target. Oppenheimer went on to say in the report “With its robotically-assisted system, MAKO is leading the joint-reconstruction market into a new era of techniques to further improve outcomes of knee and hip replacement procedures. Our rating is largely valuation-based. At 12-13x '12E EVsales, the shares, we believe, reflect the near-term excitement over MAKO's strong partial knee replacement performance and the rollout of its new hip application.” MAKO Surgical Corp. closed at $41.19 yesterday.