UPDATE: Goldman Sachs Raises PT to $38 on MAKO Surgical, Maintains Buy

Goldman Sachs reiterates its Buy rating on MAKO Surgical MAKO and raises its price target to $38 from $36 on higher estimates following fourth quarter pre-announcement from the company. Goldman Sachs notes, "4Q results should allay concerns regarding average selling prices (ASPs) in hips. Investors have worried that the company would not be able to realize stated ASP objectives ($5,000) given mixing and matching components. Our view has been that this concern is unwarranted, and early adoption trends confirm our thesis. We note that this in the context of MAKO not having a full hip product line. As the company rolls out new hip systems, we see ASP trends following those of the overall hip market. We expect MAKO's robotic technology to continue to be viewed as a differentiator among hospital facilities in order to drive higher patient volumes." MAKO closed at $34.86 per share on Friday.