In today’s marketplace, there are many gauges market participants can use to track publicly traded companies. A duo of the most under-the-radar are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite fund managers can beat the market by a superb margin (see just how much).
Equally as necessary, bullish insider trading sentiment is a second way to look at the marketplace. As the old adage goes: there are a variety of stimuli for a corporate insider to cut shares of his or her company, but just one, very clear reason why they would behave bullishly. Plenty of empirical studies have demonstrated the market-beating potential of this strategy if piggybackers understand what to do (learn more here).
Now that that’s out of the way, it’s important to examine the newest info for MAKO Surgical Corp. (NASDAQ:MAKO).
What does the smart money think about MAKO Surgical Corp. (NASDAQ:MAKO)?
At the end of the second quarter, a total of 11 of the hedge funds we track held long positions in this stock, a change of -21% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes considerably.
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As MAKO Surgical Corp. (NASDAQ:MAKO) has experienced dropping sentiment from the entirety of the hedge funds we track, it’s easy to see that there is a sect of money managers who were dropping their entire stakes in Q1. At the top of the heap, Glenn Russell Dubin’s Highbridge Capital Management dropped the largest stake of all the hedgies we monitor, comprising about $8.9 million in stock. Kevin Kotler’s fund, Broadfin Capital, also said goodbye to its stock, about $1.1 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 3 funds in Q1.
What do corporate executives and insiders think about MAKO Surgical Corp. (NASDAQ:MAKO)?
Bullish insider trading is best served when the primary stock in question has seen transactions within the past half-year. Over the latest 180-day time frame, MAKO Surgical Corp. (NASDAQ:MAKO) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators 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). All of these stocks are in the medical appliances & equipment industry and their market caps are similar to MAKO’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| The Spectranetics Corporation (NASDAQ:SPNC) | 18 | 0 | 0 |
| Symmetry Medical Inc. (NYSE:SMA) | 14 | 0 | 0 |
| Invacare Corporation (NYSE:IVC) | 12 | 0 | 0 |
| Cardiovascular Systems Inc (NASDAQ:CSII) | 8 | 0 | 0 |
| Given Imaging Ltd. (NASDAQ:GIVN) | 11 | 0 | 0 |
Using the results explained by the previously mentioned analyses, average investors should always track hedge fund and insider trading activity, and MAKO Surgical Corp. (NASDAQ:MAKO) is no exception.
