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Why MAKO Surgical is up 16 Percent Wednesday (MAKO)

MAKO Surgical (NASDAQ: MAKO) is up 16 percent Wednesday after reporting better than expect earnings after the bell Tuesday. Adjusted EPS increased to $-0.42 in the quarter versus EPS of $-0.20 in Q2 of 2012. Revenue rose 19 percent to $28.2 million year over year but both of these numbers missed consensus.

Other key highlights from the earnings release include:

Ten RIO(R) systems sold in the second quarter, of which eight were sold to domestic customers

A total of fifteen RIO systems sold worldwide in the first six months of 2013, increasing worldwide commercial installed base to 171 RIO systems and domestic commercial installed base to 164 RIO systems

3,274 MAKOplasty(R) procedures performed in the second quarter, a 26% increase over the same period in 2012

6,262 MAKOplasty procedures performed in the first six months of 2013, a 28% increase over the same period in 2012

The reason that both investors and analysts are excited about the stock is because it’s showing growth. Piper Jaffray raised its price target to $26 noting that robot sales topped expectations.

Read the transcript from the conference call here.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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