Mako slides again on missed procedure volumes, lowered outlook
Shares of Mako Surgical are under pressure today after the medical device company reported lower-than-expected procedure volumes and cut its utilization forecast for 2012.
Mako Surgical (NSDQ:MAKO) shares are once again under pressure on Wall Street, with investors spooked by lower-than-expected procedure volumes during the 3rd quarter, despite a more than 45% sales increase and significantly reduced losses.
Mako reported losses of $6.6 million, or 15¢ per share, on sales of $29.2 million during the 3 months ended Sept. 30, lowering losses by nearly ⅓ on a 45.8% sales hike.
MAKO shares were down 2.4% to 14.41 as of about 3:55 p.m. today.