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UPDATE: Piper Jaffray Cuts PT to $23 on MAKO Surgical on Volatility

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Piper Jaffray reiterated its Overweight rating on MAKO Surgical (NASDAQ: MAKO) and lowered the price target from $28.00 to $23.00.

Piper Jaffray said, “Our revised estimates and price target should position the stock to perform, in the wake of what has been a very volatile 12-month period for MAKO. While our new estimates and target are reduced (robot sales up 14%, implant sales up 40%, total revenues up 30%, $23 down from $28), the numbers strike a compelling growth profile by any standard and we believe there remains potential for upside revisions. MAKO clearly remains a “show-me” stock, and management must position 2013 outlook balancing growth and conservatism, and importantly, meeting or beating numbers for a quarter or two.”

MAKO Surgical closed at $12.22 on Friday.

Latest Ratings for MAKO

Oct 2013PiperJaffrayDowngradesOverweightNeutral
Sep 2013Wells FargoDowngradesOutperformMarket Perform
Sep 2013Summer StreetDowngradesBuyNeutral

View More Analyst Ratings for MAKO
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