Mako Surgical Recovers After Decline of More Than 40%

Medical device provider Mako Surgical

has risen by around 10.5% since market close on May 21, perhaps indicating that the stock had been oversold. Even after this increase, however, shares of Mako are still trading more than 40% lower since it released earnings on May 7. The company posted an adjusted Q1 loss per share of 28 cents, around 8 cents lower than the consensus analyst expectation. Analysts' earnings projections paint a relatively grim picture of Mako's future, with analysts anticipating adjusted losses per share of 69 cents for fiscal 2012 and 24 cents for fiscal 2013. Analyst recommendations, however, are more neutral. Of 10 analysts who have rated the stock since the beginning of this month, 7 rate it Neutral, Hold or Market Perform and 3 rate it Buy or Overweight. With such lackluster projections in place, optimism from Mako's management could improve investor sentiment about the company and provide an occasion for a stock price increase. Goldman Sach's Healthcare Conference on June 7 could be a public opportunity for management to provide an updated outlook. For now, investors are still left to wonder if and when Mako's innovative robotic arms and orthopedic implants will drive the company to profitability. Today, shares of Mako closed around 20 cents or 0.8% higher.