MAKO Surgical Corp. (NASDAQ:MAKO) investors should be aware of a decrease in support from the world’s most elite money managers in recent months.
In today’s marketplace, there are dozens of metrics shareholders can use to monitor publicly traded companies. Two of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite fund managers can trounce the S&P 500 by a healthy margin (see just how much).
Equally as integral, bullish insider trading sentiment is another way to parse down the financial markets. As the old adage goes: there are a number of motivations for an insider to sell shares of his or her company, but only one, very simple reason why they would behave bullishly. Various academic studies have demonstrated the impressive potential of this tactic if investors know where to look (learn more here).
Now, it’s important to take a gander at the latest action encompassing MAKO Surgical Corp. (NASDAQ:MAKO).
Hedge fund activity in MAKO Surgical Corp. (NASDAQ:MAKO)
At the end of the first quarter, a total of 14 of the hedge funds we track held long positions in this stock, a change of -7% from the first quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their holdings considerably.
When looking at the hedgies we track, Samuel Isaly’s OrbiMed Advisors had the biggest position in MAKO Surgical Corp. (NASDAQ:MAKO), worth close to $26.1 million, accounting for 0.6% of its total 13F portfolio. On OrbiMed Advisors’s heels is Stephen DuBois of Camber Capital Management, with a $16.7 million position; 1.4% of its 13F portfolio is allocated to the company. Remaining peers that are bullish include Jim Simons’s Renaissance Technologies, Glenn Russell Dubin’s Highbridge Capital Management and SAC Subsidiary’s CR Intrinsic Investors.
Seeing as MAKO Surgical Corp. (NASDAQ:MAKO) has faced bearish sentiment from the aggregate hedge fund industry, logic holds that there exists a select few hedge funds that decided to sell off their full holdings at the end of the first quarter. At the top of the heap, James E. Flynn’s Deerfield Management said goodbye to the biggest investment of the 450+ funds we watch, comprising close to $20.7 million in stock.. Joseph Edelman’s fund, Perceptive Advisors, also sold off its stock, about $2.2 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 1 funds at the end of the first quarter.
How have insiders been trading MAKO Surgical Corp. (NASDAQ:MAKO)?
Insider purchases made by high-level executives is particularly usable when the company in question has seen transactions within the past six months. Over the latest half-year time period, MAKO Surgical Corp. (NASDAQ:MAKO) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to MAKO Surgical Corp. (NASDAQ:MAKO). These stocks are The Spectranetics Corporation (NASDAQ:SPNC), Symmetry Medical Inc. (NYSE:SMA), Invacare Corporation (NYSE:IVC), Cardiovascular Systems Inc (NASDAQ:CSII), and Given Imaging Ltd. (NASDAQ:GIVN). This group of stocks are in the medical appliances & equipment industry and their market caps are similar to MAKO’s market cap.