When NuVasive (NUVA) reported an earnings miss on October 4th, folks feared a slowdown in the medical device sector and sold off some of the more vulnerable companies like Mako Surgical Corp(MAKO). Two days prior Mako Surgical Corp(MAKO) stood at $18.32 and on that day it fell to $15.32, Over the next few weeks Mako Surgical Corp(MAKO) continued to fade to $14.18 and seemed headed to it's August low of $11.99. That was until Intuitive Surgical reported a massive beat in it's earnings report yesterday.
That should be enough to spark a rally back under Mako Surgical Corp(MAKO) shares back near $18-19 short term. Folks are usually late to the party, and the bandwagon can get full, but now is a good time to look at Mako Surgical Corp(MAKO) before folks bid her up too high.
We currently hold the $15 and $17.50 OCT calls.