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Mako Surgical(MAKO) is a medical device company that markets its advanced robotic arm solution and orthopedic implants for orthopedic procedures. This stock is trading up 12.5% at $28.36 in recent trading.
Today's Volume: 904,000
Average Volume: 978,519
Volume % Change: 91%
Shares of MAKO are ripping to the upside today after Summer Street upgraded the stock with a $35 price target citing growth of the company's robotic arm for joint replacement surgery. The firm thinks current levels are offering an attractive entry point and thinks that Mako could be an increasingly likely acquisition target.
From a technical standpoint, MAKO is starting to flirt with a near-term
breakout if the stock can manage to sustain a high-volume move and close above $27.48. At last check, the stock is trading at $28.36 and volume is tracking pretty strong at around 70,000 shares short of its average daily volume.
If MAKO can manage to close near its daily highs, then look for this stock to re-test its 200-day moving average of $30.62 in the near future.